TFR Capital LLC. Invests $6.23 Million in GE Vernova Inc. $GEV

Key Points

• TFR Capital purchased 5,306 shares of GE Vernova worth approximately $6.23 million, making the stock 1.8% of its portfolio and its 13th-largest holding. Several other institutional investors also initiated or increased positions.
• CEO Victor Abate sold 4,819 shares for roughly $4.57 million, reducing his ownership by 72.42%; insiders collectively own just 0.21% of GE Vernova.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $1,133.15 price target. However, GE Vernova’s latest quarterly EPS of $2.47 missed estimates, despite revenue rising 21.9% year over year to $11.10 billion.

TFR Capital LLC. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,306 shares of the company's stock, valued at approximately $6,234,000. GE Vernova comprises 1.8% of TFR Capital LLC.'s holdings, making the stock its 13th biggest holding.

Several other institutional investors have also added to or reduced their stakes in GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. boosted its holdings in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC bought a new stake in shares of GE Vernova in the second quarter worth about $258,000. Ossiam bought a new stake in shares of GE Vernova in the second quarter worth about $42,000. Finally, Nebula Research & Development LLC increased its holdings in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after purchasing an additional 323 shares during the period.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEV shares. Argus set a $1,300.00 price objective on shares of GE Vernova in a report on Monday, April 27th. Barclays raised their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, April 23rd. Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. BMO Capital Markets reiterated an "outperform" rating on shares of GE Vernova in a research note on Friday, August 7th. Finally, Oppenheimer lifted their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Down 2.2%

GEV opened at $965.58 on Friday. The stock has a market capitalization of $257.16 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. The firm has a 50 day moving average price of $1,042.39 and a 200-day moving average price of $968.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV - Get Free Report) last posted its 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 company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. Equities research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current 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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