Left Brain Wealth Management LLC Invests $3.75 Million in GE Vernova Inc. $GEV

Left Brain Wealth Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,191 shares of the company’s stock, valued at approximately $3,749,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its position in shares of GE Vernova by 110,973.4% during the fourth 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 period. Vanguard Group Inc. grew its stake in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares in the last quarter. State Street Corp raised its holdings in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after buying an additional 231,392 shares during the period. Geode Capital Management LLC lifted its stake in GE Vernova by 1.1% during the 4th 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 in the last quarter. Finally, Morgan Stanley lifted its stake in GE Vernova by 12.8% during the 4th 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 in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. Guggenheim raised their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Mizuho increased their price target on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. TD Cowen raised their price objective 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. Robert W. Baird lifted their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Two research 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 issued a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

GE Vernova Price Performance

GEV stock opened at $1,082.30 on Tuesday. The business’s 50-day moving average is $1,037.03 and its two-hundred day moving average is $962.56. 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 firm has a market capitalization of $288.25 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.79 and a beta of 1.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS 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 company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

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.