Tulsa Wealth Advisors INC Takes $1.42 Million Position in GE Vernova Inc. $GEV

Key Points

• Tulsa Wealth Advisors acquired 1,205 shares of GE Vernova worth approximately $1.42 million during the second quarter, joining other institutional investors that recently initiated or increased positions.
• GE Vernova shares opened at $956.69, down 1%, while the company’s latest quarterly results showed revenue rising 21.9% year over year to $11.10 billion but EPS of $2.47 missed analyst expectations of $3.17.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $1,133.15; meanwhile, CEO Victor Abate sold roughly $4.57 million of stock, significantly reducing his direct holdings.

Tulsa Wealth Advisors INC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,205 shares of the company's stock, valued at approximately $1,415,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the 3rd quarter worth about $25,000. Torren Management LLC purchased a new stake in GE Vernova during the 4th quarter worth about $26,000. Manning & Napier Advisors LLC raised its position in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $27,000.

GE Vernova Trading Down 1.0%

Shares of GE Vernova stock opened at $956.69 on Friday. The company has a fifty day simple moving average of $1,042.72 and a 200-day simple moving average of $968.13. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. 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 stock has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.45 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 EPS. On average, equities analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a research report on Tuesday, July 21st. TD Cowen boosted their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a report on Thursday, July 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. Guggenheim lifted their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Mizuho boosted their target price on shares of GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

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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