Wealthstar Advisors LLC Acquires Shares of 1,801 GE Vernova Inc. $GEV

Wealthstar Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,801 shares of the company’s stock, valued at approximately $2,116,000. GE Vernova accounts for approximately 0.6% of Wealthstar Advisors LLC’s portfolio, making the stock its 17th biggest holding.

Other large investors also recently modified their holdings of the company. Cornerstone Financial Management LLC acquired a new position in GE Vernova in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC bought a new stake in GE Vernova during the third quarter worth about $25,000. Torren Management LLC acquired a new stake in GE Vernova during the fourth quarter worth about $26,000. Manning & Napier Advisors LLC grew its stake in 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 buying an additional 13 shares in the last quarter. Finally, Navalign LLC bought a new position in GE Vernova in the 4th quarter valued at about $27,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GEV shares. Guggenheim boosted their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada increased their price target on shares of 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. Sanford C. Bernstein lifted their price objective on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. TD Cowen upped their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Argus set a $1,300.00 target price on GE Vernova in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Up 1.8%

GEV stock opened at $1,082.30 on Tuesday. The firm has a 50-day moving average price of $1,037.03 and a 200-day moving average price of $962.56. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $288.25 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 3.79 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on 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 owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

GE Vernova Profile

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.