Meeder Advisory Services Inc. Purchases New Position in GE Vernova Inc. $GEV

Meeder Advisory Services Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,847 shares of the company’s stock, valued at approximately $9,220,000.

Several other hedge funds also recently made changes to their positions in the company. Harborfront Financial Group LLC acquired a new stake in shares of GE Vernova during the second quarter worth about $87,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $120,000. Tiemann Investment Advisors LLC purchased a new position in GE Vernova during the 2nd quarter worth approximately $1,046,000. Pzena Investment Management LLC purchased a new position in GE Vernova during the 2nd quarter worth approximately $216,000. Finally, Citizens Financial Group Inc. RI acquired a new position in GE Vernova during the second quarter worth approximately $8,337,000.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s 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 transaction, the chief executive officer owned 1,835 shares in the company, 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 SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GEV shares. Royal Bank Of Canada boosted their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Sanford C. Bernstein raised their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, TD Cowen boosted their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Down 0.0%

Shares of NYSE:GEV opened at $956.69 on Monday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The firm’s 50-day simple moving average is $1,042.72 and its 200-day simple moving average is $969.61. The company has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for 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 company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, equities research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Company 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.