Wealth Effects LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• Wealth Effects LLC initiated a GE Vernova stake of 1,780 shares valued at approximately $2.1 million during the second quarter. Several other institutional investors also increased their holdings.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, despite some rating downgrades.
• GE Vernova reported revenue of $11.1 billion, up 21.9% year over year, but quarterly EPS of $2.47 fell short of the $3.17 consensus estimate. CEO Victor Abate also sold 4,819 shares, reducing his direct ownership by 72.42%.

Wealth Effects LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,780 shares of the company's stock, valued at approximately $2,092,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors raised its stake in shares of GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company's stock valued at $8,821,000 after acquiring an additional 2,241 shares during the period. Riverbend Wealth Management LLC acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $567,000. Vest Financial LLC boosted its position in shares of GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company's stock worth $43,260,000 after purchasing an additional 23,956 shares during the period. RiverFront Investment Group LLC boosted its position in shares of GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company's stock worth $1,432,000 after purchasing an additional 1,545 shares during the period. Finally, Danske Bank A S increased its holdings in GE Vernova by 5.5% in the 4th quarter. Danske Bank A S now owns 156,236 shares of the company's stock valued at $102,111,000 after purchasing an additional 8,086 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GEV shares. Guggenheim boosted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. BNP Paribas Exane cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a report on Monday, April 27th. Royal Bank Of Canada lifted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Argus set a $1,300.00 price target on shares of GE Vernova in a research note on Monday, April 27th. Finally, Sanford C. Bernstein increased their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock 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 given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the 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 directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company's stock.

GE Vernova Trading Down 1.0%

Shares of GE Vernova stock opened at $956.69 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 $1,042.72 and a 200-day simple moving average of $968.13. 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 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 posted its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. The firm's revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Company Profile

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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