Clearstead Trust LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,091 shares of the company’s stock, valued at approximately $1,281,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Onyx Bridge Wealth Group LLC grew its holdings in shares of 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 last quarter. Red Door Wealth Management LLC lifted its holdings in shares of GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after purchasing an additional 10 shares during the last quarter. Advance Capital Management Inc. lifted its holdings in shares of GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after purchasing an additional 10 shares during the last quarter. Alpha Financial Partners LLC boosted its position in shares of GE Vernova by 2.0% in the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after purchasing an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC boosted its position in shares of GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock valued at $457,000 after purchasing an additional 10 shares during the period.
Insider Buying and Selling at GE Vernova
In other news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
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 earnings per share (EPS) 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 company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the firm earned $1.86 EPS. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada increased their price objective 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. Robert W. Baird raised their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Guggenheim raised their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.
Check Out Our Latest Research Report on GEV
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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