Buckland Partners Management Co LLC Acquires Shares of 1,812 GE Vernova Inc. $GEV

Key Points

• Buckland Partners Management initiated a position in GE Vernova by purchasing 1,812 shares valued at approximately $2.13 million. Several major institutional investors, including BlackRock, Norges Bank and Bank of New York Mellon, also recently acquired or increased holdings.
• Analysts maintain a broadly positive view, with a consensus rating of “Moderate Buy” and an average price target of $1,133.15; Guggenheim recently raised its target to $1,450.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year, but earnings per share of $2.47 fell short of the $3.17 analyst consensus. Shares opened at $956.69, below their 50-day moving average of $1,042.72.

Buckland Partners Management Co LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,812 shares of the company's stock, valued at approximately $2,130,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Auto Owners Insurance Co raised its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. BlackRock Inc. bought a new position in shares of GE Vernova in the second quarter worth $25,569,630,000. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted 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 purchasing an additional 2,406,326 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in GE Vernova during the 2nd quarter worth about $2,497,472,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GEV. Guggenheim upped their price target on GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. BMO Capital Markets reiterated an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. Argus set a $1,300.00 price target on shares of GE Vernova in a report on Monday, April 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

GE Vernova Stock Performance

Shares of GEV opened at $956.69 on Friday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. 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 company has a market cap of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The stock has a 50-day moving average price of $1,042.72 and a 200-day moving average price of $968.13.

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

Insider Buying and Selling

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

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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