James J. Burns & Company LLC Takes $217,000 Position in GE Vernova Inc. $GEV

Key Points

• James J. Burns & Company LLC acquired a new stake valued at $217,000 in GE Vernova Inc. (NYSE:GEV), purchasing 411 shares in the second quarter.
• Wall Street analysts are optimistic about GE Vernova's future, with price targets from various institutions ranging from $550.00 to $675.00, indicating a consensus rating of "Moderate Buy."
• Insider trading activity included CFO Kenneth Scott Parks selling 3,300 shares for approx. $2.05 million, reducing his ownership by 30.30%.

James J. Burns & Company LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 411 shares of the company's stock, valued at approximately $217,000.

A number of other institutional investors have also recently made changes to their positions in GEV. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter valued at about $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC purchased a new position in shares of GE Vernova during the first quarter valued at about $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova during the first quarter valued at about $33,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Bank of America increased their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, HSBC lifted their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company's stock.

GE Vernova Price Performance

NYSE GEV opened at $633.65 on Wednesday. The company has a market capitalization of $172.49 billion, a PE ratio of 152.69, a P/E/G ratio of 4.70 and a beta of 1.87. The company has a fifty day moving average of $620.35 and a 200 day moving average of $483.28. 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 earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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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