Herbst Group LLC Acquires 564 Shares of GE Vernova Inc. $GEV

Key Points

• Herbst Group LLC increased its stake in GE Vernova Inc. by 4.1%, purchasing an additional 564 shares during the second quarter, making it the 2nd largest holding in their portfolio.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, exceeding expectations with revenue of $9.11 billion, up 11.1% from the prior year.
• Several analysts have adjusted their price targets for GE Vernova, with Bank of America raising it to $620.00 and Citigroup to $670.00, reflecting a generally optimistic outlook for the stock.

Herbst Group LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,386 shares of the company's stock after purchasing an additional 564 shares during the quarter. GE Vernova comprises about 4.6% of Herbst Group LLC's investment portfolio, making the stock its 2nd largest holding. Herbst Group LLC's holdings in GE Vernova were worth $7,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Atlas Brown Inc. raised its position in shares of GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after buying an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after acquiring an additional 20 shares during the period. Grove Bank & Trust raised its holdings in GE Vernova by 16.0% during the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after purchasing an additional 25 shares in the last quarter. Finally, SVB Wealth LLC lifted its position in GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares during the period.

GE Vernova Stock Down 0.8%

NYSE:GEV opened at $628.11 on Thursday. The stock has a fifty day simple moving average of $621.67 and a 200 day simple moving average of $484.28. The firm has a market capitalization of $170.99 billion, a price-to-earnings ratio of 151.35, a price-to-earnings-growth ratio of 4.62 and a beta of 1.87. GE Vernova Inc. has a 1-year low of $247.07 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GEV shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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