IMS Capital Management Purchases Shares of 487 GE Vernova Inc. $GEV

Key Points

• IMS Capital Management has acquired 487 shares of GE Vernova Inc., valued at approximately $258,000, as reported in their recent SEC filing.
• GE Vernova's stock has shown a 12-month low of $247.07 and a high of $677.29, with a current market cap of $170.98 billion.
• In its recent quarterly earnings, GE Vernova reported an EPS of $1.86, exceeding expectations and indicating an 11.1% revenue growth year-over-year.

IMS Capital Management acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 487 shares of the company's stock, valued at approximately $258,000.

Several other institutional investors have also added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new position in GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in GE Vernova in the 1st quarter worth $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth $33,000.

GE Vernova Trading Down 0.8%

NYSE GEV opened at $628.11 on Thursday. GE Vernova Inc. has a 12 month low of $247.07 and a 12 month high of $677.29. The stock has a market cap of $170.98 billion, a price-to-earnings ratio of 151.35, a PEG ratio of 4.62 and a beta of 1.87. The company's 50 day moving average is $621.67 and its two-hundred day moving average is $484.28.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a "buy" rating in a report on Monday, September 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. HSBC increased their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Wells Fargo & Company increased their price target 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. Finally, Morgan Stanley increased their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $592.35.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

About GE Vernova

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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