Performance Wealth Partners LLC Invests $144.79 Million in GE Vernova Inc. $GEV

Performance Wealth Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel reports. The fund bought 123,244 shares of the company’s stock, valued at approximately $144,794,000. GE Vernova accounts for 3.6% of Performance Wealth Partners LLC’s portfolio, making the stock its 7th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the 3rd quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC raised its holdings in GE Vernova by 68.4% during the first 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 shares of GE Vernova during the 4th quarter worth $27,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GEV. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. 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 research report on Thursday, July 23rd. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, Mizuho raised their target price on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Price Performance

NYSE GEV opened at $956.69 on Friday. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The stock’s 50-day moving average price is $1,042.72 and its two-hundred day moving average price is $968.13. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a market cap of $254.80 billion, a PE ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling at GE Vernova

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 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by corporate insiders.

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.