Worth Asset Management LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Worth Asset Management LLC has initiated a position in GE Vernova Inc. by acquiring 2,774 shares worth approximately $1.47 million, representing 0.7% of its portfolio.
• Various hedge funds, including Caitong International Asset Management and Resona Asset Management, have also increased their stakes in GE Vernova, indicating growing interest among institutional investors.
• In recent analyst reports, GE Vernova received mixed ratings, with Mizuho downgrading the stock to "neutral" while others, including Robert W. Baird, maintained an "outperform" rating with a revised target price of $706.00.

Worth Asset Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,774 shares of the company's stock, valued at approximately $1,468,000. GE Vernova makes up 0.7% of Worth Asset Management LLC's investment portfolio, making the stock its 29th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova during the first quarter valued at about $912,000. Pines Wealth Management LLC purchased a new position in shares of GE Vernova during the second quarter valued at about $408,000. Resona Asset Management Co. Ltd. grew its position in shares of GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after purchasing an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the first quarter valued at about $458,000. Finally, Golden State Wealth Management LLC grew its position in shares of GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after purchasing an additional 817 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV traded up $19.50 during trading hours on Monday, hitting $643.67. 2,528,298 shares of the company's stock traded hands, compared to its average volume of 2,758,330. GE Vernova Inc. has a 1 year low of $246.79 and a 1 year high of $677.29. The business has a fifty day moving average price of $618.88 and a 200-day moving average price of $482.23. The firm has a market capitalization of $175.22 billion, a P/E ratio of 155.10, a price-to-earnings-growth ratio of 4.55 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms recently commented on GEV. JPMorgan Chase & Co. lifted their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a research report on Monday, September 15th. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Profile

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.