Processus Wealth & Capital Management LLC Invests $2.70 Million in GE Vernova Inc. $GEV

Key Points

• Processus Wealth & Capital Management initiated a $2.70 million position in GE Vernova during the second quarter, buying 2,297 shares. The stock now represents approximately 1.6% of the firm’s portfolio.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but EPS of $2.47 missed the $3.17 consensus forecast. Analysts expect $15.57 in full-year EPS.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,133.15, although Morgan Stanley downgraded the stock to underweight and company insiders recently sold shares.

Processus Wealth & Capital Management LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,297 shares of the company's stock, valued at approximately $2,699,000. GE Vernova comprises approximately 1.6% of Processus Wealth & Capital Management LLC's investment portfolio, making the stock its 24th biggest holding.

Other large investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the 4th quarter worth $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at $26,000. Manning & Napier Advisors LLC raised its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. Finally, Navalign LLC bought a new position in GE Vernova in the fourth quarter worth $27,000.

GE Vernova Stock Up 2.0%

GEV opened at $1,010.59 on Wednesday. The firm has a market cap of $269.15 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.53 and a beta of 1.21. 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 firm's 50-day simple moving average is $1,028.19 and its 200-day simple moving average is $951.59. 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 announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (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 net margin of 23.03% and a return on equity of 42.42%. The company's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 5.72%.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Mizuho lifted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Jefferies Financial Group reissued a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. Finally, Morgan Stanley lowered shares of 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 issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

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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