BCS Wealth Management Invests $375,000 in GE Vernova Inc. $GEV

Key Points

• BCS Wealth Management invested approximately $375,000 in GE Vernova Inc., acquiring 709 shares during the second quarter.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their holdings in GE Vernova, reflecting growing investor interest in the company.
• Analysts have issued various ratings and target price adjustments for GE Vernova, with a consensus target price currently at $592.35 and a mixed rating outlook, indicating potential for growth.

BCS Wealth Management acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 709 shares of the company's stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after acquiring an additional 214,483 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock worth $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their target price on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Finally, Wells Fargo & Company upped their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction 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 represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $628.11 on Thursday. The stock's fifty day moving average price is $621.67 and its two-hundred day moving average price is $484.28. GE Vernova Inc. has a one year low of $247.07 and a one year high of $677.29. The firm has a market cap of $170.98 billion, a price-to-earnings ratio of 151.35, a P/E/G ratio of 4.62 and a beta of 1.87.

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

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.

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