BIP Wealth LLC Invests $2.33 Million in GE Vernova Inc. $GEV

Key Points

• BIP Wealth LLC initiated a $2.33 million position in GE Vernova during the second quarter by purchasing 1,982 shares. Several other institutional investors also recently acquired or increased their holdings.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 missed consensus expectations of $3.17.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $1,133.15; however, CEO Victor Abate recently sold about $4.57 million in shares.

BIP Wealth LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,982 shares of the company's stock, valued at approximately $2,329,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter worth $25,000. Torren Management LLC purchased a new stake in GE Vernova during the fourth quarter worth $26,000. Manning & Napier Advisors LLC grew its position in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares during the period. Finally, Navalign LLC acquired a new stake in GE Vernova during the fourth quarter valued at $27,000.

GE Vernova Stock Performance

NYSE:GEV opened at $965.58 on Friday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company has a 50 day moving average price of $1,042.39 and a 200 day moving average price of $968.21. The stock has a market capitalization of $257.16 billion, a P/E ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. During the same quarter last year, the business posted $1.86 earnings per share. The company's revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GEV. The Goldman Sachs Group reissued a "buy" rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. Robert W. Baird lifted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Finally, BNP Paribas Exane lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target on the stock. in a research note on Monday, April 27th. Two investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

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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