Essential Partners LLC Cuts Stock Position in GE Vernova Inc. $GEV

Essential Partners LLC lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 75.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 829 shares of the company's stock after selling 2,546 shares during the quarter. Essential Partners LLC's holdings in GE Vernova were worth $974,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Onyx Bridge Wealth Group LLC raised its position in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock worth $635,000 after purchasing an additional 9 shares during the last quarter. Red Door Wealth Management LLC boosted its stake in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock worth $1,548,000 after acquiring an additional 10 shares during the last quarter. Advance Capital Management Inc. boosted its stake in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock worth $402,000 after acquiring an additional 10 shares during the last quarter. Alpha Financial Partners LLC increased its position in shares of GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock worth $449,000 after purchasing an additional 10 shares in the last quarter. Finally, Sandy Cove Advisors LLC increased its position in shares of GE Vernova by 2.6% during the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock worth $457,000 after purchasing an additional 10 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GEV shares. Zacks Research lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. BNP Paribas Exane lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a report on Monday, April 27th. TD Cowen increased their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Oppenheimer raised their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein boosted their price target on shares of 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 analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Down 0.0%

Shares of GEV stock opened at $956.69 on Monday. 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 twelve month low of $530.16 and a twelve month high of $1,195.94. The company's 50-day moving average price is $1,042.72 and its 200-day moving average price is $969.61. The stock has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.86 earnings per share. As a group, equities analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova 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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