Perigon Wealth Management LLC Buys New Shares in GE Vernova Inc. $GEV

Perigon Wealth Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,057 shares of the company’s stock, valued at approximately $9,466,000.

Other large investors have also bought and sold shares of the company. Onyx Bridge Wealth Group LLC boosted its position in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares in the last quarter. Red Door Wealth Management LLC increased its position in GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. raised its stake in GE Vernova by 2.2% during the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after buying an additional 10 shares during the period. Alpha Financial Partners LLC raised its stake in GE Vernova by 2.0% during the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after buying an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC boosted its holdings in GE Vernova by 2.6% in the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after acquiring an additional 10 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on GEV shares. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Two equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

Insider Activity at GE Vernova

In other 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GEV opened at $956.69 on Friday. 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 company has a market capitalization of $254.80 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. The firm’s fifty day moving average price is $1,042.72 and its two-hundred day moving average price is $968.13. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

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.