S&CO Inc. Invests $13.78 Million in GE Vernova Inc. $GEV

Key Points

• S&CO Inc. acquired 11,732 GE Vernova shares worth approximately $13.78 million during the second quarter, while several other hedge funds also opened new positions.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, despite some rating and target-price revisions.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year, but earnings per share of $2.47 fell short of the $3.17 consensus estimate.

S&CO Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,732 shares of the company's stock, valued at approximately $13,783,000.

Several other hedge funds have also modified their holdings of GEV. Kelleher Financial Advisors acquired a new position in GE Vernova during the 2nd quarter worth approximately $746,000. EJMK Ventures LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $471,000. Sutton Place Investors LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $623,000. GSA Capital Partners LLP acquired a new position in shares of GE Vernova during the second quarter worth $565,000. Finally, Avalon Trust Co acquired a new position in shares of GE Vernova during the second quarter worth $70,000.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GEV shares. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. BMO Capital Markets restated an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. Finally, Mizuho boosted their price target on GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $965.58 on Friday. The firm has a market cap of $257.16 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The firm's 50-day simple moving average is $1,042.39 and its 200-day simple moving average is $968.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. Equities analysts forecast that GE Vernova Inc. will post 15.57 earnings per share 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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