Sumitomo Life Insurance Co. Has $16.61 Million Stock Holdings in GE Vernova Inc. $GEV

Sumitomo Life Insurance Co. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,142 shares of the company’s stock after buying an additional 907 shares during the period. Sumitomo Life Insurance Co.’s holdings in GE Vernova were worth $16,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Onyx Bridge Wealth Group LLC raised its holdings in shares of GE Vernova by 1.3% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after acquiring an additional 9 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after purchasing an additional 10 shares in the last quarter. Advance Capital Management Inc. increased its holdings in GE Vernova by 2.2% during the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after purchasing an additional 10 shares in the last quarter. Alpha Financial Partners LLC raised its stake in shares of GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after purchasing an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC raised its stake in shares of GE Vernova by 2.6% in the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after purchasing an additional 10 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Morgan Stanley cut GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Mizuho raised their price objective on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. Finally, Oppenheimer lifted their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova and South Korea’s LS Electric plan to launch a joint venture focused on the high-voltage direct current (HVDC) market. The partnership could expand GEV’s exposure to long-distance power transmission and grid infrastructure projects, which are expected to benefit from rising electricity demand. GE Vernova, Korea’s LS Electric to launch joint venture targeting HVDC market
• Positive Sentiment: Analysts and market commentary continue to identify GE Vernova as a potential major beneficiary of the AI power boom. Its growing orders and backlog in gas turbines, grid equipment and electrification products position the company to supply power for data centers and broader grid upgrades. Is GE Vernova Emerging as a Key Beneficiary of the AI Power Boom?
• Positive Sentiment: GE Vernova may offer near-term solutions to data centers facing long waits for gas turbines, with demand reportedly booked out through 2031. This reinforces the company’s strategic importance as data-center operators seek reliable power capacity. GE Vernova Offers Quick Solution To AI’s Power Turbine Quandary
• Neutral Sentiment: GE Vernova and American Electric Power are both positioned to benefit from increased electricity demand, AI data centers and U.S. grid expansion, although the comparison does not establish a clear near-term advantage for GEV. GE Vernova vs. American Electric Power: Which Power Stock Has the Edge?
• Negative Sentiment: Jim Cramer warned that political and community backlash over data-center electricity consumption could slow hyperscaler projects and soften GE Vernova’s order book. Any reduction in new data-center commitments would pose a risk to the company’s growth outlook. Jim Cramer Says GE Vernova Order Book Might Have Gotten Soft

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the company’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 transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

GE Vernova Trading Up 3.1%

Shares of GE Vernova stock opened at $955.61 on Thursday. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The stock’s 50-day simple moving average is $1,038.97 and its 200 day simple moving average is $973.57. The stock has a market capitalization of $254.51 billion, a P/E ratio of 27.35, a P/E/G ratio of 3.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 15.46 EPS for the current 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.