Worth Financial Advisory Group LLC Makes New $928,000 Investment in GE Vernova Inc. $GEV

Worth Financial Advisory Group LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 790 shares of the company’s stock, valued at approximately $928,000.

Several other hedge funds also recently modified their holdings of the business. Onyx Bridge Wealth Group LLC increased its position in GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after acquiring an additional 9 shares during the period. Red Door Wealth Management LLC boosted its holdings 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 purchasing an additional 10 shares during the period. Advance Capital Management Inc. boosted its holdings in GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after purchasing an additional 10 shares during the period. Alpha Financial Partners LLC grew its position in GE Vernova by 2.0% in the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after purchasing an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC grew its position in GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after purchasing an additional 10 shares during the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

NYSE:GEV opened at $1,082.30 on Tuesday. The company has a 50-day moving average of $1,037.03 and a 200-day moving average of $962.56. The company has a market capitalization of $288.25 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.79 and a beta of 1.21. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GEV. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Guggenheim boosted their price target on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada raised their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Two 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.