Geneva Partners LLC increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 13.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,895 shares of the company's stock after purchasing an additional 1,204 shares during the period. GE Vernova makes up 3.1% of Geneva Partners LLC's holdings, making the stock its 12th largest position. Geneva Partners LLC's holdings in GE Vernova were worth $11,629,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of 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 purchasing an additional 753 shares during the period. Schnieders Capital Management LLC. boosted 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 buying an additional 26 shares during the period. Jump Financial LLC acquired a new position in shares of GE Vernova during the second quarter worth about $258,000. Ossiam bought a new position in shares of GE Vernova during the second quarter worth about $42,000. Finally, Nebula Research & Development LLC grew its holdings in shares of 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 buying an additional 323 shares in the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on GEV shares. Sanford C. Bernstein lifted their target price on GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on 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. 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 note on Thursday, July 23rd. Mizuho lifted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Finally, William Blair reissued an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.
Read Our Latest Report on GE Vernova
GE Vernova Stock Performance
GEV opened at $942.69 on Tuesday. The business's 50-day simple moving average is $1,041.97 and its 200 day simple moving average is $970.76. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. 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 firm has a market capitalization of $251.07 billion, a PE ratio of 26.98, a PEG ratio of 3.41 and a beta of 1.21.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 earnings per share. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.
Insider Buying and Selling at GE Vernova
In related news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on 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 directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.
About GE Vernova
(
Free Report)
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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