Redhawk Wealth Advisors Inc. Invests $312,000 in GE Vernova Inc. $GEV

Key Points

• Redhawk Wealth Advisors Inc. invested approximately $312,000 in GE Vernova Inc. during the second quarter, acquiring 589 shares of the company's stock.
• GE Vernova's stock opened at $624.61 with a market capitalization of $170.03 billion, and analysts have set an average price target of $592.35.
• The company reported an earnings per share (EPS) of $1.86 for the last quarter, exceeding analysts' estimates, along with an 11.1% year-over-year revenue growth.

Redhawk Wealth Advisors Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 589 shares of the company's stock, valued at approximately $312,000.

Other hedge funds have also modified their holdings of the company. EQ Wealth Advisors LLC purchased a new stake in GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $31,000.

GE Vernova Stock Down 2.1%

Shares of GEV traded down $13.35 during trading on Tuesday, reaching $631.02. 571,826 shares of the company traded hands, compared to its average volume of 3,466,476. GE Vernova Inc. has a twelve month low of $247.07 and a twelve month high of $677.29. The stock has a market cap of $171.78 billion, a PE ratio of 151.95, a price-to-earnings-growth ratio of 4.55 and a beta of 1.88. The stock has a 50-day simple moving average of $618.88 and a 200-day simple moving average of $482.23.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. TD Cowen boosted their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. UBS Group assumed coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $592.35.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

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.