Baird Financial Group Inc. Increases Stake in GE Vernova Inc. $GEV

Key Points

• Baird Financial Group increased its GE Vernova stake by 2.2% in the second quarter, acquiring 30,263 additional shares for a total of 1.4 million shares valued at approximately $1.65 billion.
• Analysts maintain a generally bullish outlook, with GE Vernova holding a consensus “Moderate Buy” rating and an average price target of $1,155.28; several firms recently raised their targets.
• GE Vernova’s latest quarterly revenue rose 21.9% year over year to $11.10 billion, exceeding estimates, although earnings per share of $2.47 fell short of the $3.17 consensus forecast.

Baird Financial Group Inc. grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,403,302 shares of the company's stock after buying an additional 30,263 shares during the quarter. GE Vernova accounts for about 2.3% of Baird Financial Group Inc.'s investment portfolio, making the stock its 5th biggest holding. Baird Financial Group Inc. owned about 0.53% of GE Vernova worth $1,648,683,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in GEV. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the third quarter worth about $25,000. Manning & Napier Advisors LLC grew its holdings in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after buying an additional 13 shares in the last quarter. Navalign LLC acquired a new stake in GE Vernova in the 4th quarter valued at approximately $27,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in GE Vernova in the 4th quarter valued at approximately $30,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Royal Bank Of Canada increased their target price on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Guggenheim raised their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein raised their target price 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,155.28.

GE Vernova Stock Up 3.0%

NYSE:GEV opened at $970.55 on Wednesday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The firm has a market capitalization of $258.49 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 4.38 and a beta of 1.15. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average price is $1,009.73 and its two-hundred day moving average price is $981.53.

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 the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.86 earnings per share. Equities research analysts expect that GE Vernova Inc. will post 15.36 earnings per share for the current fiscal year.

About GE Vernova

GE Vernova Inc NYSE: GEV is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.

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