Larson Financial Group LLC Grows Holdings in GE Vernova Inc. $GEV

Larson Financial Group LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,894 shares of the company’s stock after acquiring an additional 525 shares during the quarter. Larson Financial Group LLC’s holdings in GE Vernova were worth $4,506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. J.W. Cole Advisors Inc. increased its stake in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after buying an additional 3,278 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of GE Vernova during the third quarter valued at $18,601,000. US Bancorp DE increased its stake in shares of GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after buying an additional 2,163 shares during the period. Vanguard Group Inc. increased its stake in shares of GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after buying an additional 150,892 shares during the period. Finally, Varenne Capital Partners purchased a new position in shares of GE Vernova during the third quarter valued at $4,872,000.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEV. Jefferies Financial Group raised their price target on GE Vernova from $965.00 to $1,350.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Mizuho set a $714.00 price target on GE Vernova in a research note on Tuesday, February 3rd. BMO Capital Markets raised their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Finally, Oppenheimer set a $1,303.00 price target on GE Vernova in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Price Performance

Shares of GEV stock opened at $1,013.61 on Tuesday. GE Vernova Inc. has a 1-year low of $421.64 and a 1-year high of $1,181.95. The stock’s 50-day moving average is $961.74 and its 200 day moving average is $779.07. The company has a market cap of $272.38 billion, a P/E ratio of 29.53, a PEG ratio of 3.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

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.