Compass Capital Management Inc. Acquires Shares of 13,857 GE Vernova Inc. $GEV

Key Points

• Compass Capital Management acquired 13,857 GE Vernova shares worth approximately $16.28 million, making the stock about 1% of its portfolio. Several other major institutional investors also increased or initiated positions.
• GE Vernova shares opened at $956.69, down 1%, after the company reported quarterly EPS of $2.47—below the $3.17 consensus estimate—despite revenue of $11.10 billion exceeding expectations and rising 21.9% year over year.
• Wall Street remains broadly positive, with an average “Moderate Buy” rating and a $1,133.15 price target. Analysts cited in the article set targets ranging from $1,225 to $1,328, while CEO Victor Abate recently sold 4,819 shares.

Compass Capital Management Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,857 shares of the company's stock, valued at approximately $16,280,000. GE Vernova makes up about 1.0% of Compass Capital Management Inc.'s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of GEV. Auto Owners Insurance Co boosted its holdings in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. Norges Bank purchased a new stake in shares of GE Vernova during the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova during the second quarter worth $2,497,472,000. Finally, Corient Private Wealth LLC lifted its position in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company's stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares in the last quarter.

GE Vernova Stock Down 1.0%

Shares of NYSE:GEV opened at $956.69 on Friday. The firm has a market cap of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21. The company has a fifty day simple moving average of $1,042.72 and a 200 day simple moving average of $968.13. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate 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 was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 earnings per share. On average, equities research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. William Blair reissued an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Finally, Sanford C. Bernstein lifted their target price on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $1,133.15.

About GE Vernova

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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