Bailard Inc. Sells 1,382 Shares of GE Vernova Inc. $GEV

Key Points

• Bailard Inc. cut its GE Vernova stake by 48% in the second quarter, selling 1,382 shares and retaining 1,498 shares valued at approximately $1.76 million.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings of $2.47 per share missed consensus by $0.70.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, although Morgan Stanley downgraded the stock to “underweight” and CEO Victor Abate sold 4,819 shares.

Bailard Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 48.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,498 shares of the company's stock after selling 1,382 shares during the period. Bailard Inc.'s holdings in GE Vernova were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. Onyx Bridge Wealth Group LLC boosted its position in GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock valued at $635,000 after buying an additional 9 shares in the last quarter. Red Door Wealth Management LLC increased its holdings in GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock worth $1,548,000 after purchasing an additional 10 shares in the last quarter. Advance Capital Management Inc. increased its holdings in GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock worth $402,000 after purchasing an additional 10 shares in the last quarter. Alpha Financial Partners LLC raised its position in GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock valued at $449,000 after purchasing an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC raised its position in GE Vernova by 2.6% in the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock valued at $457,000 after purchasing an additional 10 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,082.30 on Tuesday. The stock has a market capitalization of $288.25 billion, a PE ratio of 30.98, a PEG ratio of 3.79 and a beta of 1.21. The business's 50 day simple moving average is $1,037.03 and its 200 day simple moving average is $962.56. 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 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 quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS. As a group, research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on GEV. Royal Bank Of Canada boosted their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Morgan Stanley downgraded shares of GE Vernova from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted 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 report on Thursday, July 23rd. Finally, TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Two 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 issued a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

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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