Avanza Fonder AB Purchases Shares of 25,957 GE Vernova Inc. $GEV

Key Points

• Avanza Fonder AB has purchased 25,957 shares of GE Vernova Inc. worth approximately $13.7 million during the 2nd quarter, marking a significant investment in the company.
• GE Vernova's stock recently opened at $624.61 and has a market capitalization of $170.03 billion, demonstrating strong market interest and performance.
• In its latest earnings report, GE Vernova reported an EPS of $1.86, exceeding expectations, with revenue growth of 11.1% year over year.

Avanza Fonder AB acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,957 shares of the company's stock, valued at approximately $13,735,000.

Other institutional investors have also modified their holdings of the company. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after buying an additional 53 shares during the period. 1248 Management LLC purchased a new stake in shares of GE Vernova during the 1st quarter valued at approximately $31,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of GE Vernova during the 1st quarter valued at approximately $33,000.

GE Vernova Price Performance

NYSE:GEV traded up $19.50 on Monday, reaching $643.67. The stock had a trading volume of 2,528,298 shares, compared to its average volume of 3,483,040. GE Vernova Inc. has a 12-month low of $246.79 and a 12-month high of $677.29. The company has a market cap of $175.22 billion, a price-to-earnings ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.87. The firm's fifty day moving average is $617.11 and its two-hundred day moving average is $479.75.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GEV has been the topic of a number of research reports. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research note on Monday, July 28th. Wells Fargo & Company upped their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Citigroup upped their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $592.35.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.