Foster Group Inc. Acquires New Holdings in GE Vernova Inc. $GEV

Key Points

• Foster Group Inc. acquired a new position in GE Vernova Inc., purchasing 467 shares valued at approximately $247,000 during the second quarter.
• Several large investors, including LaFleur & Godfrey LLC and Chapin Davis Inc., significantly increased their holdings in GE Vernova during the second quarter, with Chapin Davis boosting its stake by an extraordinary 964.2%.
• Despite a positive earnings report, shares of GE Vernova were recently downgraded by Wolfe Research, while other firms like Barclays and BMO Capital Markets have increased their price targets for the stock.

Foster Group Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 467 shares of the company's stock, valued at approximately $247,000.

Other large investors also recently modified their holdings of the company. LaFleur & Godfrey LLC boosted its holdings in shares of GE Vernova by 11.6% during the 2nd quarter. LaFleur & Godfrey LLC now owns 20,608 shares of the company's stock valued at $10,905,000 after acquiring an additional 2,145 shares in the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of GE Vernova by 19.2% during the second quarter. Armstrong Advisory Group Inc. now owns 951 shares of the company's stock valued at $503,000 after purchasing an additional 153 shares in the last quarter. Chapin Davis Inc. boosted its stake in shares of GE Vernova by 964.2% during the second quarter. Chapin Davis Inc. now owns 11,323 shares of the company's stock valued at $5,992,000 after purchasing an additional 10,259 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of GE Vernova by 14.4% during the second quarter. GAMMA Investing LLC now owns 8,025 shares of the company's stock worth $4,246,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of GE Vernova by 3.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,917 shares of the company's stock valued at $1,014,000 after buying an additional 65 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on GEV. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Barclays boosted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets increased their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Citigroup increased their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Trading Up 3.1%

Shares of GEV stock opened at $643.67 on Tuesday. The firm has a market capitalization of $175.22 billion, a PE ratio of 155.10, a price-to-earnings-growth ratio of 4.55 and a beta of 1.88. The firm has a fifty day simple moving average of $618.88 and a two-hundred day simple moving average of $482.23. 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 released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova 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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