GE Vernova Inc. $GEV Stock Holdings Lifted by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT LP increased its stake in GE Vernova Inc. by 33.3% during the second quarter, acquiring an additional 8,000 shares to hold a total of 32,000 shares valued at approximately $16.93 million.
• GE Vernova's stock received several analyst upgrades, with Citigroup raising its price target from $544 to $670, reflecting positive sentiment among analysts regarding the company's performance.
• In recent insider transactions, CFO Kenneth Scott Parks sold 3,300 shares at an average price of $620, reducing his holdings by 30.3% to 7,590 shares.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,000 shares of the company's stock after acquiring an additional 8,000 shares during the quarter. GE Vernova comprises about 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 22nd largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in GE Vernova were worth $16,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlas Brown Inc. increased its stake in shares of GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after buying an additional 19 shares during the period. Physician Wealth Advisors Inc. grew its stake in GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after buying an additional 20 shares during the last quarter. Grove Bank & Trust boosted its position in GE Vernova by 16.0% in the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares in the last quarter. Westover Capital Advisors LLC lifted its position in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after acquiring an additional 25 shares in the last quarter. Finally, SVB Wealth LLC raised its position in GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after purchasing an additional 26 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GEV shares. BMO Capital Markets increased their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective on the stock in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Trading Up 3.1%

Shares of NYSE GEV traded up $19.50 during mid-day trading on Monday, reaching $643.67. The company had a trading volume of 2,528,298 shares, compared to its average volume of 2,758,330. The stock has a market cap of $175.22 billion, a price-to-earnings ratio of 155.10, a price-to-earnings-growth ratio of 4.55 and a beta of 1.88. The business's 50-day moving average is $618.88 and its 200-day moving average is $482.23. GE Vernova Inc. has a 52 week low of $246.79 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for 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%. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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.