IMS Capital Management Purchases Shares of 487 GE Vernova Inc. $GEV

IMS Capital Management acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 487 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors have also added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new position in GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in GE Vernova in the 1st quarter worth $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth $33,000.

GE Vernova Trading Down 0.8%

NYSE GEV opened at $628.11 on Thursday. GE Vernova Inc. has a 12 month low of $247.07 and a 12 month high of $677.29. The stock has a market cap of $170.98 billion, a price-to-earnings ratio of 151.35, a PEG ratio of 4.62 and a beta of 1.87. The company’s 50 day moving average is $621.67 and its two-hundred day moving average is $484.28.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, July 24th. HSBC increased their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Wells Fargo & Company increased their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley increased their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $592.35.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.