Fort Henry Capital LLC Invests $248,000 in GE Vernova Inc. $GEV

Key Points

• Fort Henry Capital LLC has invested approximately $248,000 in GE Vernova Inc. (NYSE:GEV), making it the fund's 15th biggest holding.
• Several large investors, including Brighton Jones LLC and American Assets Inc., have recently increased their stakes in GE Vernova, indicating growing interest in the company.
• GE Vernova's stock opened at $643.67 and has shown strong quarterly earnings with revenue up 11.1% year-over-year, surpassing analysts' expectations.

Fort Henry Capital LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 468 shares of the company's stock, valued at approximately $248,000. GE Vernova comprises about 0.2% of Fort Henry Capital LLC's investment portfolio, making the stock its 15th biggest holding.

Several other large investors have also recently made changes to their positions in GEV. Brighton Jones LLC increased its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. American Assets Inc. bought a new stake in GE Vernova during the fourth quarter worth approximately $658,000. Sunbelt Securities Inc. increased its stake in GE Vernova by 470.4% during the fourth quarter. Sunbelt Securities Inc. now owns 1,312 shares of the company's stock worth $433,000 after acquiring an additional 1,082 shares during the last quarter. Toronto Dominion Bank increased its stake in GE Vernova by 8.6% during the fourth quarter. Toronto Dominion Bank now owns 147,639 shares of the company's stock worth $48,563,000 after acquiring an additional 11,701 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in GE Vernova by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 24,808 shares of the company's stock worth $8,160,000 after acquiring an additional 1,194 shares during the last quarter.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on 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 directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

GE Vernova Trading Up 3.1%

Shares of GEV stock opened at $643.67 on Tuesday. The business's fifty day simple moving average is $618.88 and its 200-day simple moving average is $482.23. The company has a market cap of $175.22 billion, a PE ratio of 155.10, a PEG ratio of 4.55 and a beta of 1.88. GE Vernova Inc. has a 12-month low of $246.79 and a 12-month high of $677.29.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Jefferies Financial Group boosted their price objective on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Susquehanna boosted their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Finally, UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Company Profile

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.

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