GE Vernova Inc. $GEV Shares Bought by Mar Vista Investment Partners LLC

Key Points

• Mar Vista Investment Partners increased its GE Vernova stake by 12.5% in the second quarter, purchasing 2,905 additional shares for a total of 26,096 shares valued at approximately $30.7 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, although Morgan Stanley downgraded the stock to “underweight” and Wall Street Zen lowered its rating to “hold.”
• GE Vernova’s latest quarterly revenue rose 21.9% year over year to $11.10 billion and exceeded expectations, but adjusted earnings of $2.47 per share fell short of the $3.17 consensus estimate. CEO Victor Abate also sold 4,819 shares, reducing his position by 72.42%.

Mar Vista Investment Partners LLC raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,096 shares of the company's stock after buying an additional 2,905 shares during the period. GE Vernova makes up approximately 3.1% of Mar Vista Investment Partners LLC's holdings, making the stock its 16th largest holding. Mar Vista Investment Partners LLC's holdings in GE Vernova were worth $30,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Brighton Jones LLC boosted its stake in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after purchasing an additional 26 shares in the last quarter. Jump Financial LLC purchased a new position in GE Vernova in the 2nd quarter valued at approximately $258,000. Ossiam acquired a new position in GE Vernova during the second quarter worth $42,000. Finally, Nebula Research & Development LLC raised its holdings in GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after purchasing an additional 323 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Sanford C. Bernstein upped their target price on GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Guggenheim boosted their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Morgan Stanley cut shares of GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Finally, TD Cowen raised their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

Insiders Place Their Bets

In related 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 value of $4,568,797.52. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company's stock.

GE Vernova Price Performance

Shares of NYSE:GEV 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. The business's fifty day moving average price is $1,042.72 and its two-hundred day moving average price is $969.61. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94.

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 (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company 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 firm's revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

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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