GE Vernova Inc. $GEV Shares Acquired by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond de Rothschild increased its GE Vernova stake by 63.7% in the second quarter, purchasing 3,499 additional shares for a total holding of 8,989 shares valued at approximately $10.6 million.
• GE Vernova reported 21.9% year-over-year revenue growth to $11.10 billion, but quarterly earnings of $2.47 per share fell short of analysts’ $3.17 estimate.
• 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 Wall Street Zen. CEO Victor Abate also sold 4,819 shares, reducing his direct ownership by 72.4%.

Edmond DE Rothschild Holding S.A. increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 63.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,989 shares of the company's stock after purchasing an additional 3,499 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in GE Vernova were worth $10,561,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GEV. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC lifted its position in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $27,000.

GE Vernova Price Performance

GE Vernova stock opened at $942.69 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The business has a 50 day simple moving average of $1,041.97 and a 200-day simple moving average of $970.76. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The stock has a market capitalization of $251.07 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business earned $1.86 earnings per share. Equities analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated 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 directly owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEV. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Sanford C. Bernstein raised their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, Guggenheim upped their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,133.15.

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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