BNC Wealth Management LLC Boosts Stock Position in GE Vernova Inc. $GEV

Key Points

• BNC Wealth Management LLC increased its stake in GE Vernova Inc. by 28.2%, owning a total of 9,219 shares, worth approximately $4.88 million as of the latest reporting period.
• Multiple institutional investors, including Caitong International and Golden State Wealth Management, have recently acquired positions in GE Vernova, reflecting growing interest in the company.
• Analyst reports indicate a generally positive outlook for GE Vernova, with upgrades from firms like BMO Capital Markets and recommendations ranging from Strong Buy to Outperform ratings.

BNC Wealth Management LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 28.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,219 shares of the company's stock after buying an additional 2,027 shares during the quarter. GE Vernova accounts for approximately 1.4% of BNC Wealth Management LLC's investment portfolio, making the stock its 24th largest position. BNC Wealth Management LLC's holdings in GE Vernova were worth $4,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC purchased a new position in GE Vernova during the second quarter worth $408,000. Resona Asset Management Co. Ltd. boosted its stake in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after buying an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova during the first quarter worth $458,000. Finally, Golden State Wealth Management LLC boosted its stake in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after buying an additional 817 shares during the period.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Finally, Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $633.65 on Wednesday. The company has a market capitalization of $172.49 billion, a PE ratio of 152.69, a P/E/G ratio of 4.70 and a beta of 1.87. The company has a 50-day simple moving average of $620.35 and a two-hundred day simple moving average of $483.28. GE Vernova Inc. has a one year low of $247.07 and a one year high of $677.29.

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