Wealth Effects LLC Increases Stock Position in GE Vernova Inc. $GEV

Key Points

• Wealth Effects LLC increased its stock position in GE Vernova Inc. by 47.2%, holding 1,674 shares worth $886,000 after buying 537 additional shares in the second quarter.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares for $2,046,000, reducing his holdings by 30.30%.
• Despite recent insider selling, several analyst reports have boosted price targets for GE Vernova, with estimates ranging from $580.00 to $740.00 and a consensus rating of "Moderate Buy."

Wealth Effects LLC increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 47.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,674 shares of the company's stock after buying an additional 537 shares during the quarter. Wealth Effects LLC's holdings in GE Vernova were worth $886,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atlas Brown Inc. raised its holdings in shares of GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after purchasing an additional 20 shares during the period. Grove Bank & Trust increased its position in GE Vernova by 16.0% during the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after buying an additional 25 shares during the period. Finally, SVB Wealth LLC raised its holdings in GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after buying an additional 26 shares during the period.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Down 1.7%

Shares of GEV stock opened at $633.65 on Wednesday. The business has a 50 day moving average of $620.35 and a two-hundred day moving average of $483.28. The company has a market cap of $172.49 billion, a P/E ratio of 152.69, a PEG ratio of 4.70 and a beta of 1.87. GE Vernova Inc. has a 52 week low of $247.07 and a 52 week high of $677.29.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GEV shares. Susquehanna increased their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. HSBC increased their price target on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $592.35.

About GE Vernova

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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