Centerline Wealth Advisors LLC Purchases Shares of 546 GE Vernova Inc. $GEV

Key Points

• Centerline Wealth Advisors LLC acquired 546 shares of GE Vernova Inc. for approximately $289,000, indicating growing institutional interest in the company.
• GE Vernova's stock is currently valued at around $628.11, with a market cap of $170.99 billion, reflecting a year-long high of $677.29.
• In its latest earnings report, GE Vernova reported $1.86 EPS, exceeding analyst estimates by $0.23, with quarterly revenue of $9.11 billion.

Centerline Wealth Advisors LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 546 shares of the company's stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Vanguard Group Inc. lifted its stake in GE Vernova by 1.8% in the first 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. raised its holdings in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 purchasing an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after purchasing an additional 684,794 shares in the last quarter.

GE Vernova Trading Down 0.8%

Shares of NYSE GEV opened at $628.11 on Thursday. The stock has a market cap of $170.99 billion, a P/E ratio of 151.35, a P/E/G ratio of 4.62 and a beta of 1.87. GE Vernova Inc. has a twelve month low of $247.07 and a twelve month high of $677.29. The stock has a 50 day moving average of $621.67 and a two-hundred day moving average of $484.28.

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, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the company posted $4.65 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GEV. HSBC increased their target price on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. BMO Capital Markets increased their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Susquehanna raised their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

About GE Vernova

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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