GE Vernova Inc. $GEV Shares Sold by SIR Capital Management L.P.

Key Points

• SIR Capital Management cut its GE Vernova stake by 82.2% in the second quarter, selling 5,037 shares and retaining 1,088 shares valued at approximately $1.28 million.
• CEO Victor Abate sold 4,819 shares worth roughly $4.57 million, reducing his ownership by 72.4%; insiders now own just 0.21% of the company.
• Despite the selling, analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $1,133.15 price target. GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year, but missed EPS expectations.

SIR Capital Management L.P. lessened its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 82.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,088 shares of the company's stock after selling 5,037 shares during the period. SIR Capital Management L.P.'s holdings in GE Vernova were worth $1,278,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GEV. Manning & Napier Advisors LLC lifted its holdings in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after acquiring an additional 13 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $39,000. Miller Global Investments LLC raised its holdings in shares of GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after purchasing an additional 14 shares in the last quarter. Burk Holdings LLC raised its holdings in shares of GE Vernova by 50.0% in the 2nd quarter. Burk Holdings LLC now owns 36 shares of the company's stock worth $42,000 after purchasing an additional 12 shares in the last quarter. Finally, Torren Management LLC acquired a new stake in GE Vernova during the fourth quarter valued at approximately $26,000.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

GEV has been the topic of several recent research reports. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. BMO Capital Markets reissued an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, Mizuho boosted their target price on GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Down 4.4%

GEV stock opened at $912.32 on Friday. 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 firm has a market capitalization of $242.98 billion, a P/E ratio of 26.11, a P/E/G ratio of 3.43 and a beta of 1.21. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company's 50 day simple moving average is $1,031.82 and its 200-day simple moving average is $974.36.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business posted $1.86 EPS. The company's revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 15.46 EPS for the current year.

Trending Headlines about GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: HVDC joint venture expands growth prospects: GE Vernova announced a partnership with South Korea’s LS Electric to pursue voltage-source-converter HVDC projects. The venture could strengthen GEV’s position in a fast-growing market driven by grid modernization, renewable-power integration and rising electricity demand. GE Vernova’s New JV Could Unlock its Next Big Growth Engine
• Positive Sentiment: New U.K. grid contract adds backlog: GE Vernova was selected to supply a 400-kilovolt gas-insulated switchgear substation in Chesterfield, England, as part of National Grid’s Great Grid Upgrade. The award reinforces demand for GEV’s transmission equipment and exposure to long-term grid investment. GE Vernova secures 400 kV substation contract for UK grid upgrade
• Positive Sentiment: Demand outlook remains constructive: Recent coverage argues that GE Vernova’s businesses may be sold out through 2030, while AI-related data-center electricity demand and broader power shortages could support future orders. These themes bolster the long-term growth case, although they are largely forward-looking. GE Vernova: Sold Out Through 2030 Can AI Power Demand Drive Growth?
• Neutral Sentiment: Positive media commentary offers limited direct support: Jim Cramer continues to view GEV favorably because of its nuclear exposure and delivery visibility, but the commentary does not represent a change in earnings guidance or fundamentals. GE Vernova Isn’t A Great Short, Jim Cramer Said
• Negative Sentiment: CFO succession creates near-term uncertainty: GE Vernova’s announcement of a CFO transition may prompt investors to seek clarity on financial controls, capital allocation and execution. The move also coincided with Rivian’s CFO departing to join GEV, highlighting the leadership change but not necessarily signaling an operational problem. GE Vernova Announces CFO Transition and Leadership Succession

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source