CJM Wealth Advisers Ltd. Purchases New Shares in GE Vernova Inc. $GEV

Key Points

• CJM Wealth Advisers Ltd. has acquired 430 shares of GE Vernova Inc., valued at approximately $228,000, as reported in their recent SEC filing.
• Multiple institutional investors have significantly increased their stakes in GE Vernova, including GAMMA Investing LLC, which grew its holdings by an astonishing 32,984.2%.
• Analysts are optimistic about GE Vernova's future, with several brokerages issuing buy ratings and increasing price targets, including a high of $736.00 from Susquehanna.

CJM Wealth Advisers Ltd. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 430 shares of the company's stock, valued at approximately $228,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the period. AQR Capital Management LLC boosted its position in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock worth $366,016,000 after purchasing an additional 892,549 shares during the period. Amundi boosted its position in GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after purchasing an additional 868,927 shares during the period. Assenagon Asset Management S.A. boosted its position in GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock worth $445,773,000 after purchasing an additional 834,129 shares during the period. Finally, TD Asset Management Inc boosted its position in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after purchasing an additional 799,388 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GEV shares. Robert W. Baird increased their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Barclays raised their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. Finally, Morgan Stanley raised their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $592.35.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Performance

Shares of NYSE GEV traded up $19.50 during mid-day trading on Monday, hitting $643.67. The stock had a trading volume of 2,528,298 shares, compared to its average volume of 2,758,330. GE Vernova Inc. has a 1 year low of $246.79 and a 1 year high of $677.29. The business has a 50 day moving average price of $618.88 and a two-hundred day moving average price of $482.23. The firm has a market cap of $175.22 billion, a P/E ratio of 155.10, a price-to-earnings-growth ratio of 4.55 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.