HBK Sorce Advisory LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• HBK Sorce Advisory purchased 5,085 GE Vernova shares worth approximately $5.18 million during the second quarter, joining several other institutions that initiated positions in the stock.
• Analysts maintain a generally bullish outlook, with GE Vernova receiving a consensus “Moderate Buy” rating and an average price target of $1,133.15; Guggenheim recently raised its target to $1,450.
• GE Vernova’s quarterly revenue rose 21.9% year over year to $11.10 billion, exceeding estimates, though earnings of $2.47 per share fell short of the $3.17 consensus forecast.

HBK Sorce Advisory LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,085 shares of the company's stock, valued at approximately $5,176,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Abbot Financial Management Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $295,000. Peachtree Investment Partners LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $1,032,000. Tulsa Wealth Advisors INC acquired a new stake in GE Vernova during the 2nd quarter worth about $1,415,000. OMC Financial Services LTD purchased a new stake in GE Vernova during the 2nd quarter valued at about $6,839,000. Finally, German American Bancorp Inc. purchased a new stake in GE Vernova during the 2nd quarter valued at about $247,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GEV shares. Zacks Research cut GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Oppenheimer upped their target price 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. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. Finally, Guggenheim raised their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Two equities 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova Stock Performance

NYSE GEV opened at $956.69 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 stock's 50 day simple moving average is $1,042.72 and its 200-day simple moving average is $968.13. The company 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 Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94.

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 the consensus estimate 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 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 period in the prior year, the company posted $1.86 earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm's 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 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 SEC, which is available at this link. 0.21% of the stock is owned by company insiders.

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.

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