Sutton Place Investors LLC Takes Position in GE Vernova Inc. $GEV

Sutton Place Investors LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel.com reports. The fund purchased 530 shares of the company’s stock, valued at approximately $623,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC raised its stake in 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. Miller Global Investments LLC grew its stake in shares of GE Vernova by 63.6% in the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after acquiring an additional 14 shares during the last quarter. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth $26,000. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Finally, Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the third quarter valued at $25,000.

GE Vernova Price Performance

GEV opened at $965.58 on Friday. The company’s 50-day simple moving average is $1,042.39 and its two-hundred day simple moving average is $968.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a market capitalization of $257.16 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.52 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.

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

Insider Buying and Selling

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 shares were 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 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 SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEV. Argus set a $1,300.00 price target on shares of GE Vernova in a research note on Monday, April 27th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research note on Monday, April 27th. Barclays increased their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Guggenheim raised their price target on shares of GE Vernova from $1,300.00 to $1,450.00 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 given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

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.