GE Vernova Inc. $GEV Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 16.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,595 shares of the company’s stock after buying an additional 1,895 shares during the quarter. Parallel Advisors LLC’s holdings in GE Vernova were worth $11,867,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GEV. Barclays lifted their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada increased their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. Guggenheim lifted their price target on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Robert W. Baird upped their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Two research 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

More GE Vernova News

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

• Positive Sentiment: New India wind order: GE Vernova signed an agreement with Enfinity Global to supply 43 onshore wind turbines for the Fatehgarh wind farm in India. The order supports the company’s renewable-energy backlog and international growth. GE Vernova receives order from Enfinity Global
• Positive Sentiment: AI power demand thesis: Analysts and market commentators continue to identify GE Vernova as a major potential beneficiary of the electricity shortfall created by AI data-center expansion. Demand for gas turbines, grid equipment and other generation infrastructure could provide a multiyear growth catalyst. GE Vernova Set to Be Biggest Winner From AI Data Center’s Massive Power Shortfall
• Positive Sentiment: Constructive analyst sentiment: GE Vernova has outperformed the broader market and industry peers, while analysts remain optimistic about its growth potential. Strong power-generation demand at Caterpillar, driven by data-center spending, further supports the broader industry backdrop. Do Wall Street Analysts Like GE Vernova Stock?
• Neutral Sentiment: Investment story evolving: Coverage highlights GE Vernova’s unmatched scale and exposure to rising power demand, but also points to wind-cost pressures and the need to execute across multiple businesses. How AI-Driven Power Demand and Wind Cost Pressures At GE Vernova Has Changed Its Investment Story
• Negative Sentiment: Valuation and execution risk: The stock’s strong run leaves less room for disappointment, while wind-cost pressures and the capital-intensive nature of meeting AI-related power demand could create volatility.

GE Vernova Stock Performance

NYSE GEV opened at $1,019.65 on Wednesday. The company has a fifty day moving average of $1,026.39 and a two-hundred day moving average of $939.98. The company has a market capitalization of $271.56 billion, a PE ratio of 29.18, a P/E/G ratio of 3.62 and a beta of 1.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $10.79 billion. During the same quarter last year, the firm posted $1.86 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 15.46 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 5.72%.

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.