Frontier Asset Management LLC Invests $1.34 Million in GE Vernova Inc. $GEV

Frontier Asset Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,138 shares of the company’s stock, valued at approximately $1,337,000. GE Vernova comprises about 0.2% of Frontier Asset Management LLC’s investment portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Onyx Bridge Wealth Group LLC raised its position in shares of GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after purchasing an additional 9 shares during the period. Red Door Wealth Management LLC boosted its holdings in shares of 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 buying an additional 10 shares during the period. Advance Capital Management Inc. grew its stake in GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after buying an additional 10 shares during the last quarter. Alpha Financial Partners LLC grew its stake in GE Vernova by 2.0% in the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after buying an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC raised its holdings in GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after acquiring an additional 10 shares during the period.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $965.58 on Friday. 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 Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The firm has a fifty day moving average price of $1,042.39 and a two-hundred day moving average price of $968.21. The company has a market cap of $257.16 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) 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 company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $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 is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GEV. 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. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. TD Cowen boosted their price objective on 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. Susquehanna set a $1,300.00 target price on GE Vernova in a research note on Thursday, April 23rd. Finally, Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

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.