Pallas Capital Advisors LLC Makes New $4.70 Million Investment in GE Vernova Inc. $GEV

Key Points

• Pallas Capital Advisors purchased 4,000 GE Vernova shares worth approximately $4.7 million in the second quarter, while several other institutional investors also initiated or increased positions.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, despite Morgan Stanley downgrading the stock to “underweight” and another firm moving to “hold.”
• GE Vernova reported 21.9% year-over-year revenue growth to $11.10 billion, but quarterly EPS of $2.47 fell short of the $3.17 consensus estimate. Shares opened at $956.69, down 1.0%.

Pallas Capital Advisors LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,000 shares of the company's stock, valued at approximately $4,700,000.

Several other large investors also recently made changes to their positions in GEV. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in GE Vernova during the third quarter worth approximately $25,000. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC grew its position in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new position in shares of GE Vernova in the fourth quarter valued at $27,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GEV shares. JPMorgan Chase & Co. increased their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. BMO Capital Markets restated an "outperform" rating on shares of GE Vernova in a report on Friday, August 7th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Monday, August 3rd. Finally, Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova Stock Down 1.0%

Shares of NYSE:GEV opened at $956.69 on Friday. 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 company has a market cap of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The firm has a 50 day simple moving average of $1,042.72 and a 200 day simple moving average of $968.13.

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 analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business posted $1.86 EPS. The company's revenue for the quarter was up 21.9% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

GE Vernova Company Profile

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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