HBK Sorce Advisory LLC Purchases New Stake in GE Vernova Inc. $GEV

HBK Sorce Advisory LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,085 shares of the company’s stock, valued at approximately $5,176,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the third quarter worth about $25,000. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter worth about $26,000. 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 worth $26,000 after purchasing an additional 13 shares during the period. Finally, Navalign LLC acquired a new position in GE Vernova in the 4th quarter valued at about $27,000.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred 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 directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

GE Vernova Trading Down 1.0%

NYSE:GEV opened at $956.69 on Friday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm has a market cap of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $1,042.72 and a 200 day moving average price of $968.13.

GE Vernova (NYSE:GEV) last issued 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 company 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%.GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer increased their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Mizuho raised their target price on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. Two 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

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.