Farther Finance Advisors LLC Grows Stock Position in GE Vernova Inc. $GEV

Key Points

• Farther Finance Advisors LLC has increased its stake in GE Vernova Inc. by 54.3% during the second quarter, owning 6,348 shares valued at $3,359,000.
• GE Vernova reported $1.86 earnings per share for the last quarter, exceeding the consensus estimate of $1.63 and generating revenues of $9.11 billion, up 11.1% from the previous year.
• Analysts have raised their price targets for GE Vernova, with Wells Fargo increasing it from $474.00 to $697.00 and JPMorgan raising it from $620.00 to $715.00, reflecting a generally positive outlook for the stock.

Farther Finance Advisors LLC lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 54.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,348 shares of the company's stock after buying an additional 2,235 shares during the period. Farther Finance Advisors LLC's holdings in GE Vernova were worth $3,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in GE Vernova in the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova during the first quarter worth 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 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 sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GEV. HSBC boosted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Finally, Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a "buy" rating 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Price Performance

Shares of NYSE GEV traded up $19.50 during midday trading on Monday, hitting $643.67. 2,528,298 shares of the company's stock were exchanged, compared to its average volume of 2,758,330. The stock's 50 day moving average price is $618.88 and its 200-day moving average price is $482.23. The firm has a market cap of $175.22 billion, a P/E ratio of 155.10, a PEG ratio of 4.55 and a beta of 1.88. GE Vernova Inc. has a twelve month low of $246.79 and a twelve month 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 EPS for the quarter, topping 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 return on equity of 13.23% and a net margin of 3.16%.The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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.