123,244 Shares in GE Vernova Inc. $GEV Bought by Performance Wealth Partners LLC

Key Points

• Performance Wealth Partners LLC purchased 123,244 GE Vernova shares worth approximately $144.8 million, making the stock its seventh-largest holding and representing about 3.6% of its portfolio.
• GE Vernova reported quarterly EPS of $2.47, below the $3.17 consensus estimate, although revenue of $11.10 billion exceeded forecasts and rose 21.9% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $1,133.15 price target; meanwhile, CEO Victor Abate sold 4,819 shares, reducing his direct ownership by 72.42%.

Performance Wealth Partners LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 123,244 shares of the company's stock, valued at approximately $144,794,000. GE Vernova comprises approximately 3.6% of Performance Wealth Partners LLC's holdings, making the stock its 7th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Onyx Bridge Wealth Group LLC lifted its stake in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock valued at $635,000 after buying an additional 9 shares in the last quarter. Red Door Wealth Management LLC boosted its stake in GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after buying an additional 10 shares during the last quarter. Advance Capital Management Inc. boosted its position in shares of GE Vernova by 2.2% during the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock valued at $402,000 after acquiring an additional 10 shares during the last quarter. Alpha Financial Partners LLC lifted its position in GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock valued at $449,000 after purchasing an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC lifted its holdings in shares of GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock valued at $457,000 after acquiring an additional 10 shares during the last quarter.

GE Vernova Stock Performance

GEV opened at $956.69 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21. The firm's fifty day simple moving average is $1,042.72 and its two-hundred day simple moving average is $968.13.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results 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). The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. Equities analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. Argus set a $1,300.00 price target on shares of GE Vernova in a research note on Monday, April 27th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. TD Cowen boosted 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 note on Thursday, July 23rd. Royal Bank Of Canada upped their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets restated an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently 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.

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