Global Retirement Partners LLC Purchases Shares of 15,947 GE Vernova Inc. $GEV

Global Retirement Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel.com reports. The firm bought 15,947 shares of the company’s stock, valued at approximately $18,736,000.

Other institutional investors also recently bought and sold shares of the company. Auto Owners Insurance Co increased its holdings in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. grew its stake in GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after acquiring an additional 208,162 shares during the period. State Street Corp increased its stake in GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Finally, Morgan Stanley increased its stake in GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research report on Monday, April 27th. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Finally, Mizuho boosted their target price on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Down 1.0%

Shares of NYSE GEV opened at $956.69 on Friday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm’s 50-day simple moving average is $1,042.72 and its 200 day simple moving average is $968.13. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.