542 Shares in GE Vernova Inc. $GEV Purchased by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC has acquired 542 shares of GE Vernova Inc. for approximately $287,000 during Q2, reflecting growing institutional interest in the company.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares for $2.046 million, marking a 30.30% decrease in his ownership.
• Analysts have raised price targets on GE Vernova shares, with Barclays increasing their target from $580.00 to $706.00 and JPMorgan from $620.00 to $715.00, indicating a positive outlook for the stock.

Wedge Capital Management L L P NC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 542 shares of the company's stock, valued at approximately $287,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new position in GE Vernova during the 1st quarter worth about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC acquired a new position in GE Vernova during the 1st quarter worth about $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova during the 1st quarter worth about $33,000.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $633.65 on Wednesday. The company has a market capitalization of $172.49 billion, a price-to-earnings ratio of 152.69, a P/E/G ratio of 4.70 and a beta of 1.87. The firm's 50 day simple moving average is $620.35 and its 200 day simple moving average is $483.28. GE Vernova Inc. has a fifty-two week low of $247.07 and a fifty-two week high of $677.29.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on GEV shares. Jefferies Financial Group upped their price target on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Barclays upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Robert W. Baird upped their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $592.35.

About GE Vernova

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.

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