Focused Wealth Management Inc Purchases New Position in GE Vernova Inc. $GEV

Focused Wealth Management Inc acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,701 shares of the company's stock, valued at approximately $3,173,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $786,254,000. Beverly Hills Private Wealth LLC acquired a new position in GE Vernova during the second quarter worth $372,000. OneDigital Investment Advisors LLC acquired a new position in GE Vernova during the second quarter worth $7,866,000. Plato Investment Management Ltd acquired a new position in GE Vernova during the second quarter worth $12,083,000. Finally, Bell Investment Advisors Inc bought a new position in GE Vernova during the second quarter valued at about $262,000.

GE Vernova Stock Performance

Shares of GEV opened at $956.69 on Friday. The company has a market capitalization of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.41 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. 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 company's fifty day moving average price is $1,042.72 and its 200 day moving average price is $968.13.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the company earned $1.86 earnings per share. The firm's revenue was up 21.9% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Zacks Research cut GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Oppenheimer increased their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a report on Monday, April 27th. Finally, TD Cowen upped their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company's stock.

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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