GE Vernova Inc. $GEV Shares Acquired by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC increased its holdings in GE Vernova Inc. by 98.8%, owning 12,605 shares valued at approximately $6.67 million, following the acquisition of 6,264 additional shares in Q2.
• GE Vernova's stock price increased by 2.2% to open at $624.61, with a market capitalization of $170.03 billion and a P/E ratio of 150.51.
• Analysts have raised their price targets for GE Vernova, with Robert W. Baird increasing it from $568 to $706, reflecting a positive outlook on the company's performance.

Park Avenue Securities LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 98.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,605 shares of the company's stock after purchasing an additional 6,264 shares during the period. Park Avenue Securities LLC's holdings in GE Vernova were worth $6,670,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GEV. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter worth approximately $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the first quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted 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 worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC acquired a new stake in GE Vernova in the first quarter valued at approximately $31,000. Finally, Ransom Advisory Ltd purchased a new position in shares of GE Vernova during the first quarter worth approximately $33,000.

Insider Transactions at GE Vernova

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

GE Vernova Price Performance

Shares of NYSE GEV traded up $19.50 during midday trading on Monday, reaching $643.67. The company's stock had a trading volume of 2,528,298 shares, compared to its average volume of 2,758,330. The stock has a market capitalization of $175.22 billion, a P/E ratio of 155.10, a PEG ratio of 4.55 and a beta of 1.88. The firm has a 50 day moving average price of $618.88 and a 200-day moving average price of $482.23. GE Vernova Inc. has a 12-month low of $246.79 and a 12-month high of $677.29.

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

Analyst Ratings Changes

Several brokerages recently weighed in on GEV. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a report on Monday, September 15th. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research note on Monday, July 28th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company lifted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

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.