Addison Advisors LLC Sells 1,240 Shares of GE Vernova Inc. $GEV

Addison Advisors LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 73.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437 shares of the company's stock after selling 1,240 shares during the period. Addison Advisors LLC's holdings in GE Vernova were worth $514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mmbg Investment Advisors CO. boosted its holdings in GE Vernova by 324.3% during the second quarter. Mmbg Investment Advisors CO. now owns 5,495 shares of the company's stock valued at $6,459,000 after purchasing an additional 4,200 shares in the last quarter. West Family Investments Inc. lifted its position in shares of GE Vernova by 2.3% during the 2nd quarter. West Family Investments Inc. now owns 748 shares of the company's stock worth $879,000 after buying an additional 17 shares during the period. Denali Advisors LLC acquired a new stake in GE Vernova in the 2nd quarter valued at $781,000. NewEdge Wealth LLC grew its position in GE Vernova by 8.8% in the second quarter. NewEdge Wealth LLC now owns 11,576 shares of the company's stock valued at $13,601,000 after acquiring an additional 936 shares during the period. Finally, Rockbridge Asset Management LLC bought a new stake in GE Vernova in the second quarter valued at $256,000.

Analyst Ratings Changes

A number of brokerages have issued reports on GEV. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Jefferies Financial Group reissued a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. Sanford C. Bernstein boosted their price target on shares of 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. Argus set a $1,300.00 price objective on shares of GE Vernova in a research note on Monday, April 27th. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.

GE Vernova Price Performance

GEV opened at $942.69 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a market capitalization of $251.07 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The company's 50 day simple moving average is $1,041.97 and its 200-day simple moving average is $970.76. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share 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 firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. The company's revenue was up 21.9% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

About GE Vernova

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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