S&CO Inc. Makes New Investment in GE Vernova Inc. $GEV

S&CO Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, HoldingsChannel reports. The firm purchased 11,732 shares of the company’s stock, valued at approximately $13,783,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares during the period. Jump Financial LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth about $258,000. Ossiam bought a new stake in GE Vernova in the 2nd quarter valued at about $42,000. Finally, Nebula Research & Development LLC lifted its position in GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after purchasing an additional 323 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GEV shares. BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Susquehanna set a $1,300.00 target price on GE Vernova in a research report on Thursday, April 23rd. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Finally, TD Cowen raised their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Two investment 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, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.

GE Vernova Price Performance

NYSE GEV opened at $965.58 on Friday. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The business’s fifty day moving average is $1,042.39 and its two-hundred day moving average is $968.21. The stock has a market capitalization of $257.16 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.52 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 posted its quarterly earnings data 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 net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

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.