6,689 Shares in GE Vernova Inc. $GEV Purchased by Compass Financial Management LLC

Key Points

• Compass Financial Management purchased 6,689 shares of GE Vernova worth approximately $7.86 million in the second quarter, making the stock 0.9% of its portfolio and its 22nd-largest holding.
• Analyst sentiment remains positive overall, with GE Vernova receiving a “Moderate Buy” consensus rating and an average price target of $1,133.15, despite Morgan Stanley downgrading the stock to “underweight.”
• GE Vernova’s quarterly revenue rose 21.9% year over year to $11.10 billion, exceeding estimates, but adjusted EPS of $2.47 missed expectations of $3.17. CEO Victor Abate also sold 4,819 shares at an average price of $948.08.

Compass Financial Management LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,689 shares of the company's stock, valued at approximately $7,859,000. GE Vernova accounts for approximately 0.9% of Compass Financial Management LLC's investment portfolio, making the stock its 22nd biggest position.

A number of other large investors also recently added to or reduced their stakes in the business. Onyx Bridge Wealth Group LLC grew its position in shares of GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock valued at $635,000 after purchasing an additional 9 shares in the last quarter. Red Door Wealth Management LLC lifted its position in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock worth $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. boosted its stake in GE Vernova by 2.2% during the first quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock valued at $402,000 after buying an additional 10 shares during the last quarter. Alpha Financial Partners LLC boosted its stake 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 buying an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC boosted its stake in GE Vernova by 2.6% during the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock valued at $457,000 after buying an additional 10 shares during the last quarter.

Insiders Place Their Bets

In related 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GEV shares. Zacks Research downgraded GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Sanford C. Bernstein increased their target price on GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Morgan Stanley lowered shares of GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Trading Down 1.0%

Shares of NYSE GEV opened at $956.69 on Friday. The business's 50 day moving average is $1,042.72 and its two-hundred day moving average is $968.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The stock has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $11.10 billion during 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%. GE Vernova's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

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.

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