Legal & General Group Plc Sells 138,459 Shares of GE Vernova Inc. $GEV

Legal & General Group Plc cut its holdings in GE Vernova Inc. (NYSE:GEV) by 7.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,625,272 shares of the company’s stock after selling 138,459 shares during the period. Legal & General Group Plc’s holdings in GE Vernova were worth $1,909,467,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GEV. Manning & Napier Advisors LLC lifted its position in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares in the last quarter. IMG Wealth Management Inc. bought a new position in shares of GE Vernova in the 2nd quarter valued at about $39,000. Miller Global Investments LLC grew its holdings in shares of GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after acquiring an additional 14 shares in the last quarter. Burk Holdings LLC increased its position in shares of GE Vernova by 50.0% in the second quarter. Burk Holdings LLC now owns 36 shares of the company’s stock valued at $42,000 after acquiring an additional 12 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $26,000.

GE Vernova Stock Up 0.0%

Shares of GEV stock opened at $953.44 on Friday. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The stock has a market cap of $253.93 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 3.42 and a beta of 1.21. The firm’s 50-day moving average is $1,035.81 and its 200-day moving average is $974.80. 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 (NYSE:GEV) last posted 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 business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 15.46 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on GEV shares. TD Cowen increased 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. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. 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. increased their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Two equities 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 given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’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 value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at $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 available at this link. 0.21% of the stock is owned by corporate insiders.

GE Vernova News Summary

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: HVDC joint venture expands growth opportunity: GE Vernova and South Korea’s LS Electric plan to launch a joint venture targeting the high-voltage direct-current market. HVDC equipment is important for long-distance power transmission and grid expansion, potentially strengthening GEV’s exposure to data-center, renewable-energy and electrification projects. GE Vernova, Korea’s LS Electric to launch joint venture targeting HVDC market
• Positive Sentiment: UK grid contract supports backlog: GE Vernova was selected by Laing O’Rourke to supply a 400-kilovolt gas-insulated switchgear substation in England. The project is part of National Grid’s Great Grid Upgrade, providing another example of demand for GEV’s grid equipment. Financial terms were not disclosed, so the immediate earnings impact is uncertain. GE Vernova secures 400 kV substation contract for UK grid upgrade
• Positive Sentiment: AI power demand remains a bullish theme: Analysts highlighted GEV’s orders and backlog as evidence that the company could benefit from electricity demand tied to AI data centers, grid modernization and broader electrification. Is GE Vernova Emerging as a Key Beneficiary of the AI Power Boom?
• Neutral Sentiment: CFO succession announced: GE Vernova disclosed a transition involving Chief Financial Officer Kenneth Par… and a leadership-succession plan. An orderly handoff could limit disruption, but investors may monitor execution and any changes to financial guidance. GE Vernova Announces CFO Transition and Leadership Succession
• Negative Sentiment: Data-center backlash is a risk: Jim Cramer warned that political and community opposition to data-center electricity consumption could slow projects and soften GE Vernova’s order book, challenging part of the company’s AI-related growth narrative. Jim Cramer Says GE Vernova Order Book Might Have Gotten Soft

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.