GE Vernova Inc. $GEV Stock Holdings Lessened by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC has reduced its stake in GE Vernova Inc. by 10.7%, making it the firm's second largest position, now accounting for approximately 2.2% of their holdings.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares valued at over $2 million, reflecting a 30.30% decrease in his position.
• Recent analyst ratings have significantly improved for GE Vernova, with several firms upgrading their price targets and assigning a "Buy" or "Strong Buy" rating.

Oliver Luxxe Assets LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,653 shares of the company's stock after selling 2,830 shares during the quarter. GE Vernova accounts for about 2.2% of Oliver Luxxe Assets LLC's portfolio, making the stock its 2nd largest position. Oliver Luxxe Assets LLC's holdings in GE Vernova were worth $12,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter worth about $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new stake in GE Vernova during the 1st quarter worth approximately $33,000.

GE Vernova Price Performance

Shares of GEV traded up $19.50 during midday trading on Monday, reaching $643.67. 2,528,298 shares of the stock were exchanged, compared to its average volume of 2,758,330. The business's 50-day moving average price is $618.88 and its 200 day moving average price is $482.23. GE Vernova Inc. has a twelve month low of $246.79 and a twelve month high of $677.29. The company has a market capitalization of $175.22 billion, a price-to-earnings ratio of 155.10, a PEG ratio of 4.55 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the company a "buy" rating in a report on Monday, September 15th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Four research 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. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $592.35.

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.