Meeder Advisory Services Inc. Makes New $9.22 Million Investment in GE Vernova Inc. $GEV

Meeder Advisory Services Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 7,847 shares of the company’s stock, valued at approximately $9,220,000.

Other large investors have also made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC raised its holdings in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC acquired a new position in GE Vernova during the fourth quarter worth $27,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Finally, Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Trading Down 0.0%

GE Vernova stock opened at $956.69 on Monday. The stock has a 50-day moving average price of $1,042.72 and a 200 day moving average price of $969.61. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter last year, the company posted $1.86 earnings per share. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

About GE Vernova

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.