ABN AMRO Bank N.V. Invests $185.88 Million in GE Vernova Inc. $GEV

ABN AMRO Bank N.V. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 161,348 shares of the company's stock, valued at approximately $185,880,000. GE Vernova makes up approximately 2.4% of ABN AMRO Bank N.V.'s portfolio, making the stock its 10th largest holding. ABN AMRO Bank N.V. owned about 0.06% of GE Vernova as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of GEV. Cornerstone Financial Management LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in GE Vernova in the third quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $26,000. Manning & Napier Advisors LLC increased its stake in shares of 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 purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new position in shares of GE Vernova during the 4th quarter valued at $27,000.

GE Vernova Stock Down 2.2%

GEV stock opened at $965.58 on Friday. 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 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a 50-day moving average of $1,042.39 and a two-hundred day moving average of $968.21. The stock has a market capitalization of $257.16 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 3.52 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 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The company's revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. increased their target price 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. William Blair restated an "outperform" rating on shares of GE Vernova in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of GE Vernova in a research report on Monday, July 27th. Finally, BNP Paribas Exane downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target for the company. in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

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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