GE Vernova Inc. $GEV Position Lowered by Tribune Investment Group LP

Key Points

• Tribune Investment Group LP cut its GE Vernova stake by 20% in the second quarter, selling 1,260 shares and retaining 5,050 shares valued at approximately $5.93 million.
• GE Vernova reported quarterly revenue of $11.10 billion, exceeding estimates, but earnings per share of $2.47 fell short of the $3.17 consensus forecast. Revenue increased 21.9% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, despite recent downgrades from Morgan Stanley and BNP Paribas Exane. CEO Victor Abate also sold 4,819 shares.

Tribune Investment Group LP reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,050 shares of the company's stock after selling 1,260 shares during the period. GE Vernova makes up approximately 2.4% of Tribune Investment Group LP's holdings, making the stock its 9th largest holding. Tribune Investment Group LP's holdings in GE Vernova were worth $5,933,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cornerstone Financial Management LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the third quarter worth about $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC grew its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares in the last quarter. Finally, Navalign LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $27,000.

GE Vernova Stock Down 0.0%

GE Vernova stock opened at $956.69 on Monday. 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 Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a 50-day simple moving average of $1,042.72 and a 200-day simple moving average of $969.61. The firm has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21.

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 firm had revenue of $11.10 billion during 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%. The company's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 earnings per share. As a group, equities analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Morgan Stanley downgraded shares of GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. BMO Capital Markets restated an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. BNP Paribas Exane cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target on the stock. in a research report on Monday, April 27th. Finally, Sanford C. Bernstein raised their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,133.15.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

GE Vernova Profile

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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