2,690 Shares in GE Vernova Inc. $GEV Acquired by Trust Co. of Vermont

Key Points

• Trust Co. of Vermont acquired 2,690 GE Vernova shares during the second quarter, worth approximately $3.16 million. Several other institutional investors also initiated or increased positions.
• GE Vernova’s stock opened at $956.69, down 1%, with a market capitalization of $254.8 billion. Its shares have traded between $530.16 and $1,195.94 over the past year.
• The company reported quarterly revenue of $11.10 billion, exceeding estimates, but earnings per share of $2.47 missed consensus by $0.70. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,133.15, despite CEO Victor Abate selling most of his holdings in a recent transaction.

Trust Co. of Vermont bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,690 shares of the company's stock, valued at approximately $3,160,000.

Several other large investors also recently added to or reduced their stakes in GEV. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the fourth quarter worth about $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the 3rd quarter valued at $25,000. Torren Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC grew its position in 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 last quarter. Finally, Navalign LLC bought a new position in shares of GE Vernova in the fourth quarter worth approximately $27,000.

GE Vernova Trading Down 1.0%

GEV opened at $956.69 on Friday. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $1,042.72 and a 200-day moving average of $968.13. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Equities research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GEV. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. Morgan Stanley cut GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Oppenheimer boosted their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Finally, TD Cowen boosted 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 equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

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 transaction of $4,568,797.52. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company's stock.

GE Vernova 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.

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