Bridgewater Advisors Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,203 shares of the company's stock, valued at approximately $2,218,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SFE Investment Counsel bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $5,492,000. BIP Wealth LLC bought a new position in GE Vernova in the 2nd quarter valued at $2,329,000. Phillips Financial Management LLC bought a new position in GE Vernova in the 2nd quarter valued at $240,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova in the second quarter worth $180,000. Finally, Next Capital Management LLC purchased a new stake in GE Vernova in the second quarter worth $594,000.
Insider Transactions at GE Vernova
In related news, CEO Victor Abate sold 4,819 shares of the business's 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 completion of the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
GEV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of 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. The Goldman Sachs Group reiterated a "buy" rating and set a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Jefferies Financial Group reissued a "buy" rating on shares of GE Vernova in a research report on Monday, July 27th. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, Mizuho raised their target price on shares of GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.
Get Our Latest Research Report on GE Vernova
GE Vernova Stock Down 2.2%
Shares of GE Vernova stock opened at $965.58 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a market cap of $257.16 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. The firm's 50-day moving average is $1,042.39 and its two-hundred day moving average is $968.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. The company's revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.
GE Vernova Profile
(
Free Report)
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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