Silverlake Wealth Management LLC Invests $1.22 Million in GE Vernova Inc. $GEV

Key Points

• Silverlake Wealth Management opened a new GE Vernova position worth approximately $1.22 million in the second quarter, while several other institutional investors also added shares.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,133.15, despite Morgan Stanley downgrading the stock to “underweight.”
• GE Vernova reported strong revenue growth of 21.9% year over year to $11.10 billion, but quarterly EPS of $2.47 missed estimates of $3.17; shares recently traded at $965.58, down 2.2%.

Silverlake Wealth Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,036 shares of the company's stock, valued at approximately $1,217,000.

Several other hedge funds have also recently added to or reduced their stakes in GEV. M3 Wealth Management LLC purchased a new position in GE Vernova in the second quarter worth approximately $7,200,000. Bank of New York Mellon Corp acquired a new position in GE Vernova during the 2nd quarter worth approximately $2,497,472,000. Sandro Wealth Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $327,000. PTM Wealth Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $410,000. Finally, Private Advisory Group LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $14,451,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Zacks Research lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of GE Vernova in a research report on Monday, July 27th. Finally, Morgan Stanley downgraded GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Trading Down 2.2%

Shares of GE Vernova stock opened at $965.58 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $1,042.39 and a 200-day simple moving average of $968.21. The stock has a market cap of $257.16 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-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 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. GE Vernova's revenue was up 21.9% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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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