6,689 Shares in GE Vernova Inc. $GEV Purchased by Compass Financial Management LLC

Compass Financial Management LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel reports. The fund acquired 6,689 shares of the company’s stock, valued at approximately $7,859,000. GE Vernova accounts for about 0.9% of Compass Financial Management LLC’s holdings, making the stock its 22nd biggest position.

Several other large investors have also modified their holdings of GEV. Auto Owners Insurance Co lifted its stake in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. BlackRock Inc. bought a new position in GE Vernova in the 2nd quarter valued at $25,569,630,000. Norges Bank bought a new position in GE Vernova in the 4th quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in GE Vernova in the second quarter worth $2,497,472,000.

GE Vernova Price Performance

Shares of GEV stock opened at $956.69 on Friday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve 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 fifty day simple moving average of $1,042.72 and a two-hundred day simple moving average of $968.13. The stock has a market capitalization of $254.80 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm 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 firm earned $1.86 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Oppenheimer boosted their target price 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. Morgan Stanley downgraded shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.