Sumitomo Life Insurance Co. increased its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 6.9% during the second quarter, HoldingsChannel.com reports. The firm owned 14,142 shares of the company’s stock after buying an additional 907 shares during the period. Sumitomo Life Insurance Co.’s holdings in GE Vernova were worth $16,615,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Onyx Bridge Wealth Group LLC increased its position 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 valued at $635,000 after buying an additional 9 shares during the period. Red Door Wealth Management LLC lifted its holdings in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. boosted its position in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after acquiring an additional 10 shares during the period. Alpha Financial Partners LLC boosted its position in shares of GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after acquiring 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 second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock valued at $457,000 after acquiring an additional 10 shares during the period.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. TD Cowen upped their price target 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, BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.
GE Vernova Trading Up 3.1%
NYSE GEV opened at $955.61 on Thursday. The stock’s 50-day simple moving average is $1,038.97 and its two-hundred day simple moving average is $973.57. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $254.51 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 3.33 and a beta of 1.21.
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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. Research analysts forecast that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.
Insiders Place Their Bets
In related 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.
More GE Vernova News
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 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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