Hedeker Wealth LLC Takes $4.97 Million Position in GE Vernova Inc. $GEV

Key Points

• Hedeker Wealth LLC acquired 4,230 GE Vernova shares in the second quarter, valued at approximately $4.97 million. Several other institutional investors also increased or initiated positions in the company.
• 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.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,155.28, despite recent rating downgrades from Morgan Stanley and Wall Street Zen. The stock opened at $970.55, below its 50-day and 200-day moving averages.

Hedeker Wealth LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,230 shares of the company's stock, valued at approximately $4,970,000.

A number of other hedge funds have also modified their holdings of GEV. B. Metzler seel. Sohn & Co. AG boosted its position in GE Vernova by 37.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company's stock worth $27,116,000 after acquiring an additional 6,313 shares during the period. RiverFront Investment Group LLC grew its stake in GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company's stock valued at $1,432,000 after acquiring an additional 1,545 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $8,337,000. Sapient Capital LLC increased its holdings in shares of GE Vernova by 31.4% in the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company's stock valued at $89,372,000 after purchasing an additional 18,188 shares during the period. Finally, Processus Wealth & Capital Management LLC purchased a new stake in shares of GE Vernova in the second quarter worth approximately $2,699,000.

GE Vernova Price Performance

Shares of GEV opened at $970.55 on Wednesday. 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 cap of $258.49 billion, a PE ratio of 27.78, a PEG ratio of 4.38 and a beta of 1.15. The firm's 50 day moving average price is $1,009.73 and its 200 day moving average price is $981.53. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate 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 return on equity of 42.42% and a net margin of 23.03%.The business's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. As a group, research analysts expect that GE Vernova Inc. will post 15.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GEV. Morgan Stanley cut shares of GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. Royal Bank Of Canada upped their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Oppenheimer increased their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $1,155.28.

About GE Vernova

GE Vernova Inc NYSE: GEV is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.

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