Uniting Wealth Partners LLC Makes New Investment in GE Vernova Inc. $GEV

Uniting Wealth Partners LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel reports. The fund acquired 867 shares of the company’s stock, valued at approximately $1,020,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the 3rd quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC lifted 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 purchasing an additional 13 shares during the period. Finally, Navalign LLC purchased a new position in shares of GE Vernova in the fourth quarter worth approximately $27,000.

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Mizuho upped their price objective 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, JPMorgan Chase & Co. upped their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research note 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 issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Down 1.0%

GEV opened at $956.69 on Friday. The company has a market capitalization 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 firm has a 50-day simple moving average of $1,042.72 and a two-hundred day simple moving average of $968.13. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. 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 posted its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.79 billion. During the same period last year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal 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.