Plato Investment Management Ltd Invests $12.08 Million in GE Vernova Inc. $GEV

Plato Investment Management Ltd bought a new position in GE Vernova Inc. (NYSE:GEVFree Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 10,345 shares of the company’s stock, valued at approximately $12,083,000. GE Vernova makes up 0.7% of Plato Investment Management Ltd’s investment portfolio, making the stock its 26th largest holding.

Several other hedge funds have also bought and sold shares of the business. World Investment Advisors lifted its position in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares in the last quarter. Riverbend Wealth Management LLC acquired a new position in GE Vernova during the 4th quarter valued at about $567,000. Vest Financial LLC increased its holdings 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 increased 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 purchasing an additional 1,545 shares in the last quarter. Finally, Danske Bank A S raised its stake in shares of GE Vernova by 5.5% in the fourth quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after purchasing an additional 8,086 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEV. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Sanford C. Bernstein upped their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Read Our Latest Analysis on GE Vernova

GE Vernova Stock Performance

NYSE:GEV opened at $956.69 on Friday. The company has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21. The business has a fifty day simple moving average of $1,042.72 and a two-hundred day simple moving average of $968.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEVGet 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, analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

About GE Vernova

(Free Report)

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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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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