Private Advisory Group LLC Invests $14.45 Million in GE Vernova Inc. $GEV

Key Points

• Private Advisory Group LLC acquired 12,300 GE Vernova shares during the second quarter, valued at approximately $14.45 million. Several other institutional investors also increased or initiated positions.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings of $2.47 per share missed consensus by $0.70.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,133.15, although CEO Victor Abate sold 4,819 shares at an average price of $948.08.

Private Advisory Group LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,300 shares of the company's stock, valued at approximately $14,451,000.

A number of other institutional investors have also recently modified their holdings of the business. Manning & Napier Advisors LLC raised 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 acquiring an additional 13 shares in the last quarter. Miller Global Investments LLC boosted its position in shares of GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after purchasing an additional 14 shares in the last quarter. Torren Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $26,000. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $25,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the 3rd quarter valued at about $25,000.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company's stock.

GE Vernova Price Performance

NYSE:GEV opened at $965.58 on Friday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm has a market cap of $257.16 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company's 50-day moving average is $1,042.39 and its two-hundred day moving average is $968.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

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

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Sanford C. Bernstein increased their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Mizuho lifted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Robert W. Baird boosted their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,133.15.

GE Vernova 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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