Deutsche Bank AG Purchases Shares of 877,600 GE Vernova Inc. $GEV

Key Points

• Deutsche Bank acquired 877,600 GE Vernova shares during the second quarter, valued at approximately $1.03 billion and representing about 0.33% of the company.
• Wall Street sentiment remains positive, with 22 analysts rating the stock a Buy and an average price target of $1,133.15. JPMorgan, Oppenheimer, Mizuho and TD Cowen recently raised their targets.
• GE Vernova reported year-over-year revenue growth of 21.9% to $11.10 billion, but quarterly EPS of $2.47 fell short of the $3.17 consensus estimate. CEO Victor Abate also sold 4,819 shares, reducing his ownership by 72.42%.

Deutsche Bank AG purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 877,600 shares of the company's stock, valued at approximately $1,031,057,000. Deutsche Bank AG owned approximately 0.33% of GE Vernova as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC boosted its position in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after purchasing an additional 13 shares in the last quarter. Finally, Navalign LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth $27,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEV. JPMorgan Chase & Co. upped their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Mizuho boosted their price target on GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Oppenheimer boosted their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Two 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,133.15.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the firm's 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 transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $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 available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $956.69 on Friday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company's 50 day moving average is $1,042.72 and its 200 day moving average is $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. The company has a market cap 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 announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. On average, sell-side analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

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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