GE Vernova Inc. $GEV Stake Boosted by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC boosted its stake in GE Vernova Inc. by 24.7% during Q2, reaching a total of 25,134 shares valued at approximately $13.3 million.
• Several analysts have upgraded GE Vernova's stock, with Melius raising its rating to "buy" and setting a price target of $740.00, reflecting positive sentiment in the market.
• The company recently announced a $0.25 quarterly dividend, yielding 0.2%, and reported robust financial performance with a revenue increase of 11.1% year-over-year.

Exchange Traded Concepts LLC lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 24.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,134 shares of the company's stock after buying an additional 4,977 shares during the period. Exchange Traded Concepts LLC's holdings in GE Vernova were worth $13,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Park Capital Management LLC WI purchased a new stake in shares of GE Vernova in the second quarter worth about $475,000. Andrew Hill Investment Advisors Inc. lifted its stake in shares of GE Vernova by 103.0% in the second quarter. Andrew Hill Investment Advisors Inc. now owns 8,009 shares of the company's stock worth $4,238,000 after acquiring an additional 4,063 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of GE Vernova by 4.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,015 shares of the company's stock worth $525,000 after acquiring an additional 39 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of GE Vernova by 2.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 226,476 shares of the company's stock worth $117,097,000 after acquiring an additional 4,969 shares in the last quarter. Finally, Atticus Wealth Management LLC lifted its stake in shares of GE Vernova by 1,580.0% in the second quarter. Atticus Wealth Management LLC now owns 588 shares of the company's stock worth $311,000 after acquiring an additional 553 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently commented on GEV shares. Jefferies Financial Group boosted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Morgan Stanley boosted their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. HSBC boosted their price target on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Bank of America boosted their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Susquehanna boosted their price target on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $592.35.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents 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. Company insiders own 0.15% of the company's stock.

GE Vernova Trading Up 3.1%

NYSE GEV traded up $19.50 on Monday, hitting $643.67. 2,528,298 shares of the stock traded hands, compared to its average volume of 2,758,330. The stock has a 50-day moving average of $618.88 and a 200 day moving average of $482.23. GE Vernova Inc. has a twelve month low of $246.79 and a twelve month high of $677.29. The company has a market capitalization of $175.22 billion, a P/E ratio of 155.10, a price-to-earnings-growth ratio of 4.55 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.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 firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova 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.