Sheets Smith Wealth Management Has $837,000 Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Sheets Smith Wealth Management reduced its holdings in GE Vernova Inc. by 22.3%, owning 1,582 shares worth approximately $837,000 after selling 454 shares in the second quarter.
• Analysts have mixed ratings on GE Vernova, with four analysts giving it a Strong Buy rating, and a consensus average target price of $592.35.
• The company reported $1.86 EPS for the last quarter, surpassing estimates, and achieved a year-over-year revenue increase of 11.1%, amounting to $9.11 billion.

Sheets Smith Wealth Management lessened its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 22.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,582 shares of the company's stock after selling 454 shares during the quarter. Sheets Smith Wealth Management's holdings in GE Vernova were worth $837,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $912,000. Pines Wealth Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. increased its position in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $458,000. Finally, Golden State Wealth Management LLC increased its position in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Susquehanna lifted their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Finally, Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Price Performance

GEV opened at $628.11 on Thursday. The business has a fifty day simple moving average of $621.67 and a 200 day simple moving average of $484.28. The company has a market capitalization of $170.98 billion, a PE ratio of 151.35, a price-to-earnings-growth ratio of 4.62 and a beta of 1.87. GE Vernova Inc. has a 1 year low of $247.07 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

Insider Transactions at GE Vernova

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

GE Vernova Profile

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.

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