Geneva Partners LLC Has $11.63 Million Stock Position in GE Vernova Inc. $GEV

Geneva Partners LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 13.9% in the second quarter, HoldingsChannel reports. The firm owned 9,895 shares of the company’s stock after buying an additional 1,204 shares during the period. GE Vernova makes up 3.1% of Geneva Partners LLC’s portfolio, making the stock its 12th largest position. Geneva Partners LLC’s holdings in GE Vernova were worth $11,629,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GEV. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new stake in GE Vernova in the 4th quarter valued at $26,000. Manning & Napier Advisors LLC lifted its holdings in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova during the 4th quarter valued at $27,000.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, 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 is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

NYSE GEV opened at $942.69 on Tuesday. The firm’s 50 day simple moving average is $1,041.97 and its 200 day simple moving average is $970.76. The firm has a market capitalization of $251.07 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 3.41 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. 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 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 business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on GEV. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Oppenheimer lifted their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Finally, TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Two equities 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

About GE Vernova

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.