Banco BTG Pactual S.A. Invests $8.41 Million in GE Vernova Inc. $GEV

Banco BTG Pactual S.A. purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,160 shares of the company's stock, valued at approximately $8,412,000. GE Vernova accounts for 0.7% of Banco BTG Pactual S.A.'s portfolio, making the stock its 21st largest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Auto Owners Insurance Co grew its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $25,569,630,000. State Street Corp increased its holdings in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company's stock valued at $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the last quarter.

GE Vernova Trading Down 1.0%

GEV opened at $956.69 on Friday. The firm's fifty day simple moving average is $1,042.72 and its 200 day simple moving average is $968.13. The stock has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 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 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 during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on GEV. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a research report on Tuesday, July 21st. Guggenheim boosted their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock 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 GE Vernova stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate 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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