Focus Partners Advisor Solutions LLC Purchases Shares of 8,884 GE Vernova Inc. $GEV

Key Points

• Focus Partners Advisor Solutions bought 8,884 shares of GE Vernova in the second quarter, valued at approximately $10.4 million. Several other institutional investors also increased or initiated positions.
• CEO Victor Abate sold 4,819 shares for about $4.57 million, reducing his direct ownership by 72.42%; insiders now own 0.21% of the company.
• Analysts remain broadly positive, with GE Vernova carrying a “Moderate Buy” consensus rating and an average price target of $1,133.15. The company’s latest quarter beat revenue expectations but missed earnings estimates, reporting $2.47 in EPS versus the $3.17 consensus.

Focus Partners Advisor Solutions LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,884 shares of the company's stock, valued at approximately $10,438,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Manning & Napier Advisors LLC raised its holdings in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares in the last quarter. Miller Global Investments LLC lifted its position in GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after buying an additional 14 shares during the last quarter. Torren Management LLC purchased a new stake in GE Vernova in the fourth quarter worth approximately $26,000. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the fourth quarter worth approximately $25,000. Finally, Wealth Watch Advisors INC bought a new position in GE Vernova during the third quarter valued at approximately $25,000.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction 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 directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

GEV has been the topic of several research reports. Jefferies Financial Group reissued a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Barclays increased their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a research report on Monday, April 27th. Finally, William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. Two equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average target price of $1,133.15.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $965.58 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The business's 50 day simple moving average is $1,042.39 and its two-hundred day simple moving average is $968.21. The stock has a market capitalization of $257.16 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94.

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 the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during 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 business's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. Analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Company 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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