Commerzbank Aktiengesellschaft FI Takes Position in GE Vernova Inc. $GEV

Key Points

• Commerzbank Aktiengesellschaft FI acquired 2,597 GE Vernova shares worth approximately $3.05 million in the second quarter, while several other institutional investors also increased or initiated positions.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,133.15; RBC and JPMorgan recently raised their targets to $1,225 and $1,330, respectively.
• 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 of $3.17. The stock opened at $956.69, down 1.0%, while CEO Victor Abate sold shares worth about $4.57 million.

Commerzbank Aktiengesellschaft FI bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,597 shares of the company's stock, valued at approximately $3,051,000.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after purchasing an additional 26 shares during the last quarter. Jump Financial LLC bought a new stake in GE Vernova in the second quarter valued at about $258,000. Ossiam acquired a new position in GE Vernova in the second quarter valued at about $42,000. Finally, Nebula Research & Development LLC lifted its stake in GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after buying an additional 323 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GEV shares. Royal Bank Of Canada increased their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped 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. Jefferies Financial Group reiterated a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. William Blair reissued an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Finally, Argus set a $1,300.00 price target on shares of GE Vernova in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.

GE Vernova Trading Down 1.0%

NYSE:GEV opened at $956.69 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 business's 50-day simple moving average is $1,042.72 and its 200-day simple moving average is $968.13. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The stock has a market capitalization 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.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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). The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insider Buying and Selling at GE Vernova

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 transaction of $4,568,797.52. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by company 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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