12,300 Shares in GE Vernova Inc. $GEV Purchased by Private Advisory Group LLC

Private Advisory Group LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel reports. The institutional investor purchased 12,300 shares of the company’s stock, valued at approximately $14,451,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC lifted its holdings in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the period. Miller Global Investments LLC boosted its position in shares of GE Vernova by 63.6% in the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after acquiring an additional 14 shares during the last quarter. Torren Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Finally, Wealth Watch Advisors INC acquired a new position in GE Vernova during the third quarter worth approximately $25,000.

GE Vernova Trading Down 2.2%

NYSE:GEV opened at $965.58 on Friday. The business’s 50-day moving average is $1,042.39 and its two-hundred day moving average is $968.21. The firm has a market capitalization 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 Inc. has a 12 month low of $530.16 and a 12 month 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 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 company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the business posted $1.86 EPS. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. 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 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 stock an “outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

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.