NewEdge Wealth LLC Acquires 936 Shares of GE Vernova Inc. $GEV

NewEdge Wealth LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,576 shares of the company’s stock after purchasing an additional 936 shares during the period. NewEdge Wealth LLC’s holdings in GE Vernova were worth $13,601,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cornerstone Financial Management LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter worth $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth $26,000. Manning & Napier Advisors LLC boosted its holdings in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the period. Finally, Navalign LLC bought a new position in shares of GE Vernova in the fourth quarter worth $27,000.

Insider Buying and Selling at GE Vernova

In other 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 transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. 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. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. JPMorgan Chase & Co. upped their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Trading Down 1.5%

Shares of GEV stock opened at $942.69 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a market capitalization of $251.07 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The business’s fifty day moving average is $1,041.97 and its 200 day moving average is $970.76.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the business posted $1.86 EPS. GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

About GE Vernova

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.