Fielder Capital Group LLC purchased a new position in GE Vernova Inc. (NYSE:GEV – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 684 shares of the company’s stock, valued at approximately $804,000.
Other institutional investors have also made changes to their positions in the company. World Investment Advisors lifted its holdings in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares in the last quarter. Riverbend Wealth Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at approximately $567,000. Vest Financial LLC increased its stake in 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 in the last quarter. RiverFront Investment Group LLC raised its holdings in 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 buying an additional 1,545 shares during the period. Finally, Danske Bank A S raised its holdings in GE Vernova by 5.5% during the 4th quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after buying an additional 8,086 shares during the period.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on GEV. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. TD Cowen upped their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.
GE Vernova Price Performance
Shares of GEV opened at $965.58 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The stock has a market capitalization of $257.16 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.52 and a beta of 1.21. The company has a 50 day moving average of $1,042.39 and a 200-day moving average of $968.21.
GE Vernova (NYSE:GEV – Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.
Insiders Place Their Bets
In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
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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