Focused Alpha LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,343 shares of the company's stock, valued at approximately $1,578,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter worth $25,000. Torren Management LLC acquired a new stake in GE Vernova during the fourth quarter valued at $26,000. Manning & Napier Advisors LLC grew its position in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares during the period. Finally, Navalign LLC purchased a new position in GE Vernova in the fourth quarter valued at $27,000.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on GEV shares. BMO Capital Markets reiterated an "outperform" rating on shares of GE Vernova in a research report on Friday, August 7th. Jefferies Financial Group restated a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. Zacks Research cut GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Royal Bank Of Canada increased their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a report 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 assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.
Get Our Latest Research Report on GE Vernova
Insider Transactions at GE Vernova
In related news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction dated 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. This represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company's stock.
GE Vernova Trading Down 1.0%
Shares of GEV stock opened at $956.69 on Friday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock's fifty day moving average is $1,042.72 and its two-hundred day moving average is $968.13. The firm has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21.
GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned $1.86 earnings per share. Research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.
GE Vernova Company Profile
(
Free Report)
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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