Financial Enhancement Group LLC Sells 799 Shares of GE Vernova Inc. $GEV

Key Points

• Financial Enhancement Group LLC has reduced its stake in GE Vernova Inc. by 18.6%, with holdings valued at $1.88 million after selling 799 shares.
• Analysts have recently upgraded the stock, with TD Cowen raising the price target from $390.00 to $685.00 and several others rating it as a "strong buy."
• GE Vernova reported a quarterly earnings per share of $1.86, surpassing estimates, and saw an 11.1% year-over-year revenue increase to $9.11 billion.

Financial Enhancement Group LLC cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 18.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,490 shares of the company's stock after selling 799 shares during the period. Financial Enhancement Group LLC's holdings in GE Vernova were worth $1,882,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC bought a new position in shares of GE Vernova during the 2nd quarter worth about $408,000. Resona Asset Management Co. Ltd. raised its position in shares of GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova in the first quarter valued at about $458,000. Finally, Golden State Wealth Management LLC grew its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after buying an additional 817 shares in the last quarter.

GE Vernova Stock Performance

GEV traded up $19.50 during midday trading on Monday, hitting $643.67. The company had a trading volume of 2,528,298 shares, compared to its average volume of 2,758,330. GE Vernova Inc. has a twelve month low of $246.79 and a twelve month high of $677.29. The firm's 50-day simple moving average is $618.88 and its 200-day simple moving average is $482.23. The company has a market capitalization of $175.22 billion, a PE ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.88.

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 for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the business posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

Insider Activity

In related 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 value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEV. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a "buy" rating in a report on Monday, September 15th. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $592.35.

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.