Wealthstar Advisors LLC Purchases Shares of 1,801 GE Vernova Inc. $GEV

Key Points

• Wealthstar Advisors acquired 1,801 GE Vernova shares worth approximately $2.1 million, making the stock its 17th-largest portfolio position and representing about 0.6% of its holdings.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings of $2.47 per share missed consensus expectations of $3.17. The stock was trading near $1,082, with a market capitalization of about $288 billion.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $1,133.15 price target, although Morgan Stanley and BNP Paribas Exane recently downgraded the shares.

Wealthstar Advisors LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,801 shares of the company's stock, valued at approximately $2,116,000. GE Vernova accounts for about 0.6% of Wealthstar Advisors LLC's portfolio, making the stock its 17th largest position.

Other institutional investors also recently modified their holdings of the company. Onyx Bridge Wealth Group LLC grew its holdings in GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock worth $635,000 after purchasing an additional 9 shares during the period. Red Door Wealth Management LLC raised its stake in GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after buying an additional 10 shares during the period. Advance Capital Management Inc. lifted its position in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock valued at $402,000 after buying an additional 10 shares during the last quarter. Alpha Financial Partners LLC lifted its position in shares of GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock valued at $449,000 after buying an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC boosted its stake in shares of GE Vernova by 2.6% during the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock worth $457,000 after acquiring an additional 10 shares during the period.

GE Vernova Trading Up 1.8%

GEV stock opened at $1,082.30 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company's 50-day simple moving average is $1,037.03 and its 200 day simple moving average is $962.56. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The company has a market capitalization of $288.25 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 3.79 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly 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). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the business posted $1.86 earnings per share. GE Vernova's revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on GEV. Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. Guggenheim raised their price target 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 shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, William Blair reissued an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, 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 SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

GE Vernova 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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