GE Vernova Inc. $GEV Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 1.4% in the second quarter, Holdings Channel reports. The institutional investor owned 69,996 shares of the company’s stock after selling 1,014 shares during the quarter. NewEdge Advisors LLC’s holdings in GE Vernova were worth $82,235,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new position in GE Vernova during the 4th quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $25,000. Manning & Napier Advisors LLC lifted its position in shares of GE Vernova by 68.4% during the first 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 last quarter. Navalign LLC bought a new position in shares of GE Vernova during the fourth quarter worth about $27,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in GE Vernova in the fourth quarter worth about $30,000.

GE Vernova Price Performance

Shares of GEV opened at $970.55 on Wednesday. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a fifty day moving average price of $1,009.73 and a 200 day moving average price of $981.53. The company has a market cap of $258.49 billion, a P/E ratio of 27.78, a PEG ratio of 4.38 and a beta of 1.15.

GE Vernova (NYSE:GEV) last posted its earnings results 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). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 15.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GEV shares. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Oppenheimer lifted their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada lifted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Finally, Mizuho raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,155.28.

GE Vernova Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.