Aljian Capital Management LLC Takes $4.62 Million Position in GE Vernova Inc. $GEV

Key Points

• Aljian Capital Management initiated a $4.62 million position in GE Vernova during the second quarter, while several other institutional investors also bought new stakes.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 missed consensus by $0.70.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, despite the stock opening at $956.69 and a recent CEO share sale.

Aljian Capital Management LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,929 shares of the company's stock, valued at approximately $4,617,000. GE Vernova accounts for about 0.9% of Aljian Capital Management LLC's holdings, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Meeder Advisory Services Inc. purchased a new stake in shares of GE Vernova in the second quarter worth approximately $9,220,000. Harborfront Financial Group LLC purchased a new position in GE Vernova during the second quarter valued at approximately $87,000. Meeder Asset Management Inc. purchased a new position in GE Vernova during the second quarter valued at approximately $120,000. Tiemann Investment Advisors LLC acquired a new position in GE Vernova in the 2nd quarter valued at approximately $1,046,000. Finally, Pzena Investment Management LLC acquired a new position in GE Vernova in the 2nd quarter valued at approximately $216,000.

GE Vernova Stock Down 0.0%

GEV opened at $956.69 on Monday. The firm has a market cap of $254.80 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The business has a 50 day moving average price of $1,042.72 and a 200 day moving average price of $969.61. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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 net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the business earned $1.86 EPS. The company's revenue for the quarter was up 21.9% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $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. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GEV shares. Jefferies Financial Group reiterated a "buy" rating on shares of GE Vernova in a research report on Monday, July 27th. Guggenheim boosted their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Oppenheimer upped their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price objective for the company. in a report on Monday, April 27th. Finally, Sanford C. Bernstein lifted their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova 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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