Texas Capital Bank Wealth Management Services Inc Purchases Shares of 816 GE Vernova Inc. $GEV

Texas Capital Bank Wealth Management Services Inc acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel reports. The firm acquired 816 shares of the company’s stock, valued at approximately $959,000.

A number of other hedge funds have also recently made changes to their positions in the business. Cornerstone Financial Management LLC purchased a new position in GE Vernova in the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in GE Vernova during the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC raised its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $27,000.

GE Vernova Trading Down 1.0%

Shares of GEV opened at $956.69 on Friday. The stock has a market capitalization of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. The company’s fifty day moving average is $1,042.72 and its 200 day moving average is $968.13. 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 Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the business earned $1.86 EPS. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GEV shares. TD Cowen upped their target price 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. Sanford C. Bernstein lifted their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Guggenheim boosted their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

GE Vernova 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.