GE Vernova Inc. $GEV Shares Bought by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services increased its GE Vernova stake by 272.5% in the second quarter, adding 2,864 shares for a total of 3,915 shares valued at approximately $4.6 million. Several other institutional investors also added to or initiated positions.
• Analysts remain broadly positive, with GE Vernova receiving a consensus “Moderate Buy” rating and an average price target of $1,155.28. Recent target increases included TD Cowen at $1,235 and Oppenheimer at $1,338.
• GE Vernova reported second-quarter revenue of $11.10 billion, up 21.9% year over year, but earnings per share of $2.47 missed the $3.17 consensus estimate. Shares opened at $943.58, while the stock’s 52-week range is $530.16 to $1,195.94.

Ameritas Advisory Services LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 272.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,915 shares of the company's stock after purchasing an additional 2,864 shares during the quarter. Ameritas Advisory Services LLC's holdings in GE Vernova were worth $4,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Advisors LLC NC increased its holdings in shares of GE Vernova by 7.5% in the second quarter. Guardian Wealth Advisors LLC NC now owns 473 shares of the company's stock valued at $556,000 after purchasing an additional 33 shares during the period. Wedmont Private Capital lifted its holdings in shares of GE Vernova by 2.2% during the second quarter. Wedmont Private Capital now owns 14,045 shares of the company's stock worth $15,331,000 after purchasing an additional 298 shares during the period. Kintra Wealth LLC lifted its holdings in shares of GE Vernova by 11.2% during the second quarter. Kintra Wealth LLC now owns 1,020 shares of the company's stock worth $1,198,000 after purchasing an additional 103 shares during the period. Morling Financial Advisors LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $253,000. Finally, PCG Wealth Advisors LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $249,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on GEV shares. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Oppenheimer upped their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Jefferies Financial Group reiterated a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. BMO Capital Markets reissued an "outperform" rating on shares of GE Vernova in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $1,155.28.

GE Vernova Trading Up 0.2%

Shares of GE Vernova stock opened at $943.58 on Tuesday. The firm has a 50-day simple moving average of $1,013.77 and a two-hundred day simple moving average of $980.46. 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 fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a market cap of $251.30 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 4.38 and a beta of 1.15.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results 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 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%. GE Vernova's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, equities analysts predict that GE Vernova Inc. will post 15.36 earnings per share for the current fiscal year.

GE Vernova Company 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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