Global Retirement Partners LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,947 shares of the company's stock, valued at approximately $18,736,000.
Other large investors have also added to or reduced their stakes in the company. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new stake in GE Vernova in the 3rd quarter worth about $25,000. Torren Management LLC purchased a new position in GE Vernova in the 4th quarter worth about $26,000. Manning & Napier Advisors LLC raised its position in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $27,000.
Insider Transactions at GE Vernova
In other news, CEO Victor Abate sold 4,819 shares of the 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Sanford C. Bernstein raised their target price on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. The Goldman Sachs Group reissued a "buy" rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Oppenheimer upped their price target 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. Finally, Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.
View Our Latest Research Report on GE Vernova
GE Vernova Trading Down 1.0%
GE Vernova stock opened at $956.69 on Friday. The stock has a 50-day moving average of $1,042.72 and a two-hundred day moving average of $968.13. GE Vernova Inc. has a one year low of $530.16 and a one year 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 stock has a market cap of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21.
GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.
GE Vernova Company Profile
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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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