RiverFront Investment Group LLC Purchases 1,545 Shares of GE Vernova Inc. $GEV

Key Points

• RiverFront Investment Group LLC increased its GE Vernova position by 239.2% in the fourth quarter, buying 1,545 additional shares and bringing its total holdings to 2,191 shares worth about $1.43 million.
• Several other institutional investors also made large moves in GE Vernova, with firms like Northwestern Mutual, Capital World Investors, and Jennison Associates sharply increasing their stakes.
• GE Vernova reported strong quarterly results, including earnings per share of $17.44 and revenue of $9.34 billion, while analysts remain broadly bullish with a consensus rating of Moderate Buy and an average target price of $1,090.76.

RiverFront Investment Group LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 239.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,191 shares of the company's stock after acquiring an additional 1,545 shares during the quarter. RiverFront Investment Group LLC's holdings in GE Vernova were worth $1,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GEV. Northwestern Mutual Wealth Management Co. increased its stake in GE Vernova by 5,171.3% in 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 acquiring an additional 2,406,326 shares during the last quarter. Capital World Investors increased its stake in GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company's stock valued at $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Franklin Resources Inc. boosted its position in GE Vernova by 170.0% during the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company's stock valued at $722,956,000 after buying an additional 740,339 shares during the period. Jennison Associates LLC boosted its position in GE Vernova by 1,300.4% during the fourth quarter. Jennison Associates LLC now owns 647,791 shares of the company's stock valued at $423,377,000 after buying an additional 601,533 shares during the period. Finally, SG Americas Securities LLC boosted its position in GE Vernova by 10,288.6% during the fourth quarter. SG Americas Securities LLC now owns 418,661 shares of the company's stock valued at $273,624,000 after buying an additional 414,631 shares during the period.

GE Vernova Stock Performance

GE Vernova stock opened at $1,013.61 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $961.74 and a 200-day moving average of $779.07. The firm has a market cap of $272.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $421.64 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 14.84 EPS for the current year.

Wall Street Analysts Forecast Growth

GEV has been the subject of several analyst reports. TD Cowen upped their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. BNP Paribas Exane lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Robert W. Baird upped their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,090.76.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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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