40,606 Shares in GE Vernova Inc. $GEV Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 40,606 shares of the company’s stock, valued at approximately $47,706,000.

Other institutional investors also recently bought and sold shares of the company. Auto Owners Insurance Co boosted its stake in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares during the period. BlackRock Inc. acquired a new position in GE Vernova in the 2nd quarter valued at about $25,569,630,000. Norges Bank purchased a new stake in GE Vernova during the 4th quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its position in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of GE Vernova in the 2nd quarter valued at approximately $2,497,472,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $956.69 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $1,042.72 and a 200-day simple moving average of $969.61. The company has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 3.41 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.

GE Vernova (NYSE:GEV) last posted its quarterly 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). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter last year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s 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 of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% 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 the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Oppenheimer lifted their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. TD Cowen upped their price objective on shares of 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. Finally, Guggenheim raised their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.