G&S Capital LLC Acquires New Position in GE Vernova Inc. $GEV

Key Points

• G&S Capital acquired a new GE Vernova position of 3,038 shares valued at approximately $3.57 million during the second quarter. Several other investment firms also modestly increased their holdings.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,133.15; recent targets range as high as $1,450.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 missed consensus by $0.70. The company also pays a quarterly dividend of $0.50 per share.

G&S Capital LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,038 shares of the company's stock, valued at approximately $3,569,000.

Other hedge funds also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC boosted its holdings in GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock worth $635,000 after purchasing an additional 9 shares during the period. Red Door Wealth Management LLC increased its stake in GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after purchasing an additional 10 shares during the last quarter. Advance Capital Management Inc. raised its holdings in shares of GE Vernova by 2.2% during the first quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock worth $402,000 after purchasing an additional 10 shares during the period. Alpha Financial Partners LLC raised its holdings in shares of GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock worth $449,000 after purchasing an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC lifted its position in shares of GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock worth $457,000 after buying an additional 10 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Sanford C. Bernstein lifted their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Guggenheim increased 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 note on Thursday, July 23rd. TD Cowen raised their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Barclays lifted their target price on GE Vernova from $993.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Finally, Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Up 2.0%

GE Vernova stock opened at $1,010.59 on Wednesday. The company has a 50-day simple moving average of $1,028.19 and a 200-day simple moving average of $951.59. The firm has a market capitalization of $269.15 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. 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 released its quarterly earnings data 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm's revenue was up 21.9% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. As a group, equities analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Announces Dividend

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

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company's stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the business'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 transaction, 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 position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

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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