Phillips Wealth Planners LLC Takes $700,000 Position in GE Vernova Inc. $GEV

Phillips Wealth Planners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 650 shares of the company’s stock, valued at approximately $700,000.

Several other hedge funds have also bought and sold shares of the company. Auto Owners Insurance Co increased its position 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. Norges Bank bought a new position in shares of GE Vernova during the 4th quarter worth approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $2,497,472,000. Finally, Corient Private Wealth LLC raised its stake in GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after acquiring an additional 1,553,295 shares during the period.

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Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GEV. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued 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.

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GE Vernova Stock Down 1.0%

GEV stock opened at $956.69 on Friday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a market capitalization of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21. The business’s fifty day moving average price is $1,042.72 and its two-hundred day moving average price is $968.13.

GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. 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 previous year, the firm posted $1.86 EPS. The company’s revenue was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Profile

(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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