Tran Capital Management L.P. Acquires 7,304 Shares of GE Vernova Inc. $GEV

Key Points

• Tran Capital Management L.P. increased its position in GE Vernova Inc. by 14.1%, owning 59,229 shares valued at approximately $31.34 million, making it the firm's 11th biggest holding.
• GE Vernova reported an earnings per share of $1.86 for the most recent quarter, exceeding estimates of $1.63, with revenues up 11.1% year-over-year.
• The company recently announced a quarterly dividend of $0.25, reflecting a 0.2% annual yield, with a payout ratio of 24.10%.

Tran Capital Management L.P. raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,229 shares of the company's stock after purchasing an additional 7,304 shares during the quarter. GE Vernova accounts for approximately 3.7% of Tran Capital Management L.P.'s holdings, making the stock its 11th biggest position. Tran Capital Management L.P.'s holdings in GE Vernova were worth $31,341,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GEV. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $33,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. The Goldman Sachs Group boosted their price objective on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays boosted their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. BMO Capital Markets upped their price target on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Trading Down 2.2%

NYSE:GEV traded down $14.34 during midday trading on Tuesday, hitting $630.03. 1,543,484 shares of the company traded hands, compared to its average volume of 3,471,894. The firm's fifty day moving average is $618.88 and its 200-day moving average is $482.23. GE Vernova Inc. has a 12-month low of $247.07 and a 12-month high of $677.29. The firm has a market capitalization of $171.51 billion, a P/E ratio of 151.31, a P/E/G ratio of 4.55 and a beta of 1.88.

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

Insider Buying and Selling

In other GE Vernova 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 owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

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.