Trust Co. of Vermont Makes New Investment in GE Vernova Inc. $GEV

Trust Co. of Vermont bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel reports. The fund bought 2,690 shares of the company’s stock, valued at approximately $3,160,000.

Other large investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC grew its stake in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the last quarter. Miller Global Investments LLC increased its position in GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after buying an additional 14 shares in the last quarter. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter valued at $26,000. Cornerstone Financial Management LLC purchased a new position in GE Vernova during the fourth quarter valued at $25,000. Finally, Wealth Watch Advisors INC bought a new stake in GE Vernova in the third quarter worth $25,000.

GE Vernova Stock Performance

Shares of GEV opened at $956.69 on Friday. The company has a market cap 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 business’s fifty day simple moving average is $1,042.72 and its two-hundred day simple moving average is $968.13. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. 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 (NYSE:GEV) last posted 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). The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 EPS. Research analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEV. Sanford C. Bernstein increased their target price on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. TD Cowen lifted their price target on 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. Royal Bank Of Canada lifted their price target 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. Oppenheimer upped their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley downgraded shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus 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 stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

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.