Bank of Nova Scotia Sells 16,704 Shares of GE Vernova Inc. $GEV

Bank of Nova Scotia lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 31.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,580 shares of the company's stock after selling 16,704 shares during the period. Bank of Nova Scotia's holdings in GE Vernova were worth $41,803,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Auto Owners Insurance Co raised its position 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 valued at $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. BlackRock Inc. bought a new position in GE Vernova in the 2nd quarter valued at approximately $25,569,630,000. Norges Bank acquired a new stake in GE Vernova during the 4th quarter worth approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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 acquiring an additional 2,406,326 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in GE Vernova during the 2nd quarter worth approximately $2,497,472,000.

Trending Headlines about GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova and South Korea’s LS Electric plan to launch a joint venture focused on the high-voltage direct current (HVDC) market. The partnership could expand GEV’s exposure to long-distance power transmission and grid infrastructure projects, which are expected to benefit from rising electricity demand. GE Vernova, Korea's LS Electric to launch joint venture targeting HVDC market
• Positive Sentiment: Analysts and market commentary continue to identify GE Vernova as a potential major beneficiary of the AI power boom. Its growing orders and backlog in gas turbines, grid equipment and electrification products position the company to supply power for data centers and broader grid upgrades. Is GE Vernova Emerging as a Key Beneficiary of the AI Power Boom?
• Positive Sentiment: GE Vernova may offer near-term solutions to data centers facing long waits for gas turbines, with demand reportedly booked out through 2031. This reinforces the company’s strategic importance as data-center operators seek reliable power capacity. GE Vernova Offers Quick Solution To AI's Power Turbine Quandary
• Neutral Sentiment: GE Vernova and American Electric Power are both positioned to benefit from increased electricity demand, AI data centers and U.S. grid expansion, although the comparison does not establish a clear near-term advantage for GEV. GE Vernova vs. American Electric Power: Which Power Stock Has the Edge?
• Negative Sentiment: Jim Cramer warned that political and community backlash over data-center electricity consumption could slow hyperscaler projects and soften GE Vernova’s order book. Any reduction in new data-center commitments would pose a risk to the company’s growth outlook. Jim Cramer Says GE Vernova Order Book Might Have Gotten Soft

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business's 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Mizuho raised their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Morgan Stanley downgraded GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. JPMorgan Chase & Co. increased their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova Stock Performance

Shares of GEV opened at $955.61 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $254.51 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 3.33 and a beta of 1.21. The firm's fifty day simple moving average is $1,038.97 and its two-hundred day simple moving average is $973.57. 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 posted its quarterly earnings data 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 business had revenue of $11.10 billion during 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 business's revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted $1.86 earnings per share. As a group, analysts predict that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Company Profile

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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