Generali Investments Management Co LLC Buys 2,035 Shares of GE Vernova Inc. $GEV

Key Points

• Generali Investments Management increased its GE Vernova stake by 135.2% in the second quarter, buying 2,035 additional shares and bringing its holdings to 3,540 shares valued at $4.16 million.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings of $2.47 per share missed the $3.17 consensus forecast. The company also declared a $0.50 quarterly dividend.
• Analysts maintain a generally positive view, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $1,133.15. However, company insiders recently sold shares, including CEO Victor Abate, who reduced his holdings by 72.42%.

Generali Investments Management Co LLC increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 135.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,540 shares of the company's stock after buying an additional 2,035 shares during the period. GE Vernova accounts for about 0.9% of Generali Investments Management Co LLC's portfolio, making the stock its 20th largest position. Generali Investments Management Co LLC's holdings in GE Vernova were worth $4,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. increased its position in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after acquiring an additional 26 shares during the period. Jump Financial LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $258,000. Ossiam bought a new stake in shares of GE Vernova during the second quarter valued at approximately $42,000. Finally, Nebula Research & Development LLC boosted its holdings in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after purchasing an additional 323 shares during the period.

GE Vernova Stock Down 0.2%

Shares of GEV stock opened at $988.37 on Tuesday. The stock's fifty day moving average price is $1,027.37 and its 200 day moving average price is $949.18. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a market cap of $263.23 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates 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%. The company's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. On average, research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 5.72%.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer increased their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of GE Vernova in a research report on Monday, July 27th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Monday, August 3rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of GE Vernova in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.

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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