GAMMA Investing LLC Raises Position in GE Vernova Inc. $GEV

Key Points

• GAMMA Investing LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 14.4% during the second quarter, holding 8,025 shares valued at $4.25 million.
• Several major institutional investors, including Vanguard Group and Goldman Sachs, also raised their positions in GE Vernova, indicating strong institutional interest in the stock.
• Analysts remain positive on GE Vernova, with firms like Citigroup and Wells Fargo raising their price targets significantly, reflecting a consensus rating of "Moderate Buy" with an average price target of $592.35.

GAMMA Investing LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,025 shares of the company's stock after buying an additional 1,010 shares during the quarter. GAMMA Investing LLC's holdings in GE Vernova were worth $4,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the period. American Assets Inc. bought a new position in GE Vernova during the fourth quarter valued at approximately $658,000. Vise Technologies Inc. increased its holdings in GE Vernova by 46.8% during the fourth quarter. Vise Technologies Inc. now owns 3,274 shares of the company's stock valued at $1,077,000 after buying an additional 1,044 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in GE Vernova by 470.4% during the fourth quarter. Sunbelt Securities Inc. now owns 1,312 shares of the company's stock valued at $433,000 after buying an additional 1,082 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of GE Vernova by 8.6% in the fourth quarter. Toronto Dominion Bank now owns 147,639 shares of the company's stock worth $48,563,000 after purchasing an additional 11,701 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Morgan Stanley upped their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Bank of America raised their target price on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

Insider Transactions at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

GE Vernova Trading Up 3.1%

NYSE GEV traded up $19.50 during trading on Monday, reaching $643.67. 2,528,298 shares of the company's stock were exchanged, compared to its average volume of 2,758,330. GE Vernova Inc. has a fifty-two week low of $246.79 and a fifty-two week high of $677.29. The company's fifty day simple moving average is $618.88 and its 200-day simple moving average is $482.23. The firm has a market capitalization of $175.22 billion, a PE ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.88.

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

GE Vernova Company 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.