Principle Wealth Partners LLC Purchases New Position in GE Vernova Inc. $GEV

Key Points

• Principle Wealth Partners initiated a GE Vernova position by purchasing 2,572 shares worth approximately $3.02 million during the second quarter.
• Several major institutions also increased or initiated holdings, including Norges Bank and Bank of New York Mellon, signaling substantial institutional interest in the stock.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and $1,133.15 price target, although recent earnings missed EPS expectations ($2.47 versus $3.17) despite revenue exceeding forecasts.

Principle Wealth Partners LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,572 shares of the company's stock, valued at approximately $3,022,000.

Several other institutional investors have also modified their holdings of the business. Auto Owners Insurance Co lifted its stake in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its position in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in GE Vernova in the second quarter valued at $2,497,472,000. Finally, Corient Private Wealth LLC lifted its position in shares of GE Vernova by 2,802.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company's stock valued at $1,051,407,000 after buying an additional 1,553,295 shares during the last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% 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 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEV shares. Guggenheim boosted their price target on GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. BNP Paribas Exane downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a research report on Monday, April 27th. Zacks Research downgraded GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Performance

NYSE GEV opened at $956.69 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a fifty day moving average price of $1,042.72 and a 200-day moving average price of $968.13.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

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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