Vise Technologies Inc. increased its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 54.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,846 shares of the company’s stock after buying an additional 5,233 shares during the period. Vise Technologies Inc.’s holdings in GE Vernova were worth $17,442,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of GEV. Cornerstone Financial Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC lifted its holdings in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC acquired a new position in GE Vernova during the 4th quarter valued at approximately $27,000.
Insider Activity at GE Vernova
In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were 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 approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.
GE Vernova Price Performance
GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 EPS. Equities analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on GEV shares. Guggenheim increased their target price on 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. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Oppenheimer upped their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. TD Cowen increased their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.
Get Our Latest Analysis 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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