8,884 Shares in GE Vernova Inc. $GEV Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel reports. The fund bought 8,884 shares of the company’s stock, valued at approximately $10,438,000.

Other hedge funds also recently bought and sold shares of the company. Auto Owners Insurance Co grew its position in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares in the last quarter. State Street Corp raised its holdings in shares of GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares in the last quarter. Geode Capital Management LLC lifted its stake in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after acquiring an additional 68,894 shares during the period. Finally, Morgan Stanley lifted its stake in GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after acquiring an additional 685,466 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Down 2.2%

NYSE GEV opened at $965.58 on Friday. The firm has a market capitalization of $257.16 billion, a PE ratio of 27.64, a P/E/G ratio of 3.52 and a beta of 1.21. The stock’s 50 day moving average is $1,042.39 and its 200 day moving average is $968.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. 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 (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 analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate 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 posted $1.86 EPS. Research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GEV. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. TD Cowen lifted their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

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.