Simplicity Wealth LLC Takes Position in GE Vernova Inc. $GEV

Simplicity Wealth LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel reports. The fund acquired 1,939 shares of the company’s stock, valued at approximately $2,278,000.

Several other large investors have also made changes to their positions in GEV. World Investment Advisors increased its position in GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after purchasing an additional 2,241 shares in the last quarter. Riverbend Wealth Management LLC purchased a new position in GE Vernova in the fourth quarter valued at approximately $567,000. Vest Financial LLC lifted its position in GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares in the last quarter. RiverFront Investment Group LLC lifted its position in GE Vernova by 239.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after buying an additional 1,545 shares in the last quarter. Finally, Danske Bank A S grew its stake in GE Vernova by 5.5% during the fourth quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after buying an additional 8,086 shares during the period.

GE Vernova Stock Down 1.0%

Shares of NYSE:GEV opened at $956.69 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a 50 day moving average of $1,042.72 and a two-hundred day moving average of $968.13. The company has a market capitalization of $254.80 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21.

GE Vernova (NYSE:GEV) 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). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the business earned $1.86 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GEV shares. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Guggenheim lifted their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Finally, Oppenheimer increased their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. 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 company. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $1,133.15.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, 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 accessible through the SEC website. Insiders own 0.21% of the company’s stock.

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.