Bank of Nova Scotia trimmed its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 31.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,580 shares of the company’s stock after selling 16,704 shares during the quarter. Bank of Nova Scotia’s holdings in GE Vernova were worth $41,803,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Auto Owners Insurance Co raised its holdings in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. BlackRock Inc. acquired a new position in shares of GE Vernova during the second quarter valued at about $25,569,630,000. State Street Corp increased its position in shares of GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after acquiring an additional 231,392 shares in the last quarter. Geode Capital Management LLC increased its position in shares of GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after acquiring an additional 68,894 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.
Key Headlines Impacting GE Vernova
Here are the key news stories impacting GE Vernova this week:
- Positive Sentiment: GE Vernova and South Korea’s LS Electric plan to launch a joint venture focused on the high-voltage direct current (HVDC) market. The partnership could expand GEV’s exposure to long-distance power transmission and grid infrastructure projects, which are expected to benefit from rising electricity demand. GE Vernova, Korea’s LS Electric to launch joint venture targeting HVDC market
- Positive Sentiment: Analysts and market commentary continue to identify GE Vernova as a potential major beneficiary of the AI power boom. Its growing orders and backlog in gas turbines, grid equipment and electrification products position the company to supply power for data centers and broader grid upgrades. Is GE Vernova Emerging as a Key Beneficiary of the AI Power Boom?
- Positive Sentiment: GE Vernova may offer near-term solutions to data centers facing long waits for gas turbines, with demand reportedly booked out through 2031. This reinforces the company’s strategic importance as data-center operators seek reliable power capacity. GE Vernova Offers Quick Solution To AI’s Power Turbine Quandary
- Neutral Sentiment: GE Vernova and American Electric Power are both positioned to benefit from increased electricity demand, AI data centers and U.S. grid expansion, although the comparison does not establish a clear near-term advantage for GEV. GE Vernova vs. American Electric Power: Which Power Stock Has the Edge?
- Negative Sentiment: Jim Cramer warned that political and community backlash over data-center electricity consumption could slow hyperscaler projects and soften GE Vernova’s order book. Any reduction in new data-center commitments would pose a risk to the company’s growth outlook. Jim Cramer Says GE Vernova Order Book Might Have Gotten Soft
GE Vernova Stock Performance
GE Vernova (NYSE:GEV – Get Free Report) last issued 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). The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 EPS. On average, research analysts predict that GE Vernova Inc. will post 15.46 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GEV. TD Cowen lifted their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada raised their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Oppenheimer upped their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Mizuho increased their price target on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.
Read Our Latest Analysis on GE Vernova
Insiders Place Their Bets
In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.
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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