CRA Financial Services LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• CRA Financial Services LLC has acquired a new position in GE Vernova Inc., purchasing 537 shares valued at approximately $284,000 during the 2nd quarter.
• Recent insider trading revealed that CFO Kenneth Scott Parks sold 3,300 shares for over $2 million, reducing his ownership by 30.3%.
• Analysts have set a consensus target price of $592.35 for GE Vernova, with multiple firms rating the stock as a "buy" or "outperform."

CRA Financial Services LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 537 shares of the company's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the 1st quarter worth $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova in the first quarter valued at about $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova in the first quarter valued at about $33,000.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. TD Cowen lifted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Citigroup lifted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Morgan Stanley lifted their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

GE Vernova Price Performance

NYSE:GEV opened at $643.67 on Tuesday. The firm has a 50 day simple moving average of $618.88 and a 200-day simple moving average of $482.23. The firm has a market cap of $175.22 billion, a PE ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.88. GE Vernova Inc. has a 1-year low of $246.79 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Company Profile

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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