First National Bank of Omaha Takes $2.01 Million Position in GE Vernova Inc. $GEV

First National Bank of Omaha bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 1,765 shares of the company's stock, valued at approximately $2,014,000.

Several other large investors have also recently modified their holdings of the stock. Auto Owners Insurance Co raised its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the period. BlackRock Inc. purchased a new position in GE Vernova during the second quarter worth $25,569,630,000. Norges Bank bought a new position in GE Vernova during the fourth quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its position in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in GE Vernova during the second quarter valued at $2,497,472,000.

Insider Activity at GE Vernova

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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GEV shares. Royal Bank Of Canada raised their target price on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Guggenheim upped their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Oppenheimer increased their price objective 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, Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova Trading Down 0.0%

NYSE GEV opened at $956.69 on Monday. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 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 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 (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 EPS. Equities research analysts forecast 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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