Frontier Asset Management LLC Invests $1.34 Million in GE Vernova Inc. $GEV

Key Points

• Frontier Asset Management purchased 1,138 shares of GE Vernova worth approximately $1.34 million during the second quarter, making the stock about 0.2% of its portfolio.
• GE Vernova reported quarterly EPS of $2.47, below the $3.17 consensus estimate, while revenue rose 21.9% year over year to $11.10 billion, exceeding expectations.
• Wall Street maintains a “Moderate Buy” consensus, with an average price target of $1,133.15; shares recently traded at $965.58, down 2.2%.

Frontier Asset Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,138 shares of the company's stock, valued at approximately $1,337,000. GE Vernova makes up approximately 0.2% of Frontier Asset Management LLC's holdings, making the stock its 24th biggest holding.

Several other large investors have also recently bought and sold shares of the business. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova during the 3rd quarter valued at about $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC increased its holdings in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares during the period. Finally, Navalign LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $27,000.

GE Vernova Trading Down 2.2%

Shares of NYSE GEV opened at $965.58 on Friday. The business has a 50 day simple moving average of $1,042.39 and a 200 day simple moving average of $968.21. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The stock has a market cap of $257.16 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 business had revenue of $11.10 billion for 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%. GE Vernova's revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. On average, research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Weiss Ratings restated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Argus set a $1,300.00 price target on shares of GE Vernova in a research note on Monday, April 27th. Finally, Sanford C. Bernstein upped their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,133.15.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of the 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

About GE Vernova

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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