Tulsa Wealth Advisors INC Invests $1.42 Million in GE Vernova Inc. $GEV

Tulsa Wealth Advisors INC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel reports. The firm acquired 1,205 shares of the company’s stock, valued at approximately $1,415,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. World Investment Advisors lifted its holdings in shares of GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after buying an additional 2,241 shares during the period. Riverbend Wealth Management LLC acquired a new position in GE Vernova during the fourth quarter worth $567,000. Vest Financial LLC raised its position in GE Vernova by 56.7% in the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after acquiring an additional 23,956 shares in the last quarter. RiverFront Investment Group LLC lifted its holdings in GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after acquiring an additional 1,545 shares during the period. Finally, Danske Bank A S lifted its holdings in GE Vernova by 5.5% in the fourth quarter. Danske Bank A S now owns 156,236 shares of the company’s stock valued at $102,111,000 after acquiring an additional 8,086 shares during the period.

GE Vernova Stock Down 1.0%

GEV stock opened at $956.69 on Friday. The stock has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a PEG ratio of 3.45 and a beta of 1.21. 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 Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a 50 day moving average price of $1,042.72 and a two-hundred day moving average price of $968.13.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share 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 analysts’ expectations of $10.79 billion. During the same period in the prior year, the company earned $1.86 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GEV. BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. Oppenheimer raised their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Sanford C. Bernstein boosted their price objective on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. Finally, Mizuho boosted their price target 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 analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Company 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.