AMG National Trust Bank Takes Position in GE Vernova Inc. $GEV

AMG National Trust Bank purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,673 shares of the company's stock, valued at approximately $1,966,000.

Other institutional investors also recently bought and sold shares of the company. Auto Owners Insurance Co raised its holdings in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Norges Bank purchased a new stake in shares of GE Vernova during the 4th quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock worth $1,603,114,000 after buying an additional 2,406,326 shares during the period. Bank of New York Mellon Corp purchased a new position in GE Vernova during the second quarter valued at $2,497,472,000. Finally, Corient Private Wealth LLC grew its position in shares of GE Vernova by 2,802.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company's stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares during the period.

Insider Buying and Selling at GE Vernova

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on GEV shares. JPMorgan Chase & Co. lifted 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 note on Thursday, July 23rd. Morgan Stanley cut shares of GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. The Goldman Sachs Group reiterated a "buy" rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

GE Vernova Price Performance

Shares of NYSE GEV opened at $956.69 on Friday. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The firm has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a PEG ratio of 3.45 and a beta of 1.21. The company's fifty 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 quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV - Get Free Report) last posted its 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 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 analysts' expectations of $10.79 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 15.57 EPS 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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