Plato Investment Management Ltd Buys Shares of 10,345 GE Vernova Inc. $GEV

Key Points

• Plato Investment Management established a new GE Vernova position by purchasing 10,345 shares valued at approximately $12.1 million, representing 0.7% of its portfolio.
• Institutional ownership remains strong, with major investors including Auto Owners Insurance, Vanguard, State Street, Geode Capital and Morgan Stanley increasing their stakes. CEO Victor Abate, however, sold 4,819 shares worth about $4.6 million.
• GE Vernova reported quarterly revenue of $11.1 billion, up 21.9% year over year, but its $2.47 EPS missed estimates of $3.17. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,133.15.

Plato Investment Management Ltd bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,345 shares of the company's stock, valued at approximately $12,083,000. GE Vernova comprises about 0.7% of Plato Investment Management Ltd's holdings, making the stock its 26th biggest position.

A number of other large investors also recently modified their holdings of the company. Auto Owners Insurance Co grew its position in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. raised its position in GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp raised its position in GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company's stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock valued at $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company's stock.

GE Vernova Stock Performance

NYSE:GEV opened at $956.69 on Friday. The company has a fifty day moving average of $1,042.72 and a 200-day moving average of $968.13. The firm has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current year.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Sanford C. Bernstein boosted their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Mizuho raised their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a "neutral" rating in a report on Friday, July 24th. BMO Capital Markets reiterated an "outperform" rating on shares of GE Vernova in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.

About GE Vernova

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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