Kelleher Financial Advisors Takes Position in GE Vernova Inc. $GEV

Kelleher Financial Advisors bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 635 shares of the company’s stock, valued at approximately $746,000.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in GE Vernova during the 4th quarter worth about $26,000. Manning & Napier Advisors LLC lifted its holdings in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the period. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $27,000.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

GE Vernova Stock Down 2.2%

GEV opened at $965.58 on Friday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The firm has a market capitalization of $257.16 billion, a P/E ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. The company’s 50-day moving average is $1,042.39 and its 200 day moving average is $968.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. Research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on GEV shares. Barclays raised their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Morgan Stanley cut shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Mizuho boosted their target price on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Argus set a $1,300.00 price objective on GE Vernova in a research report on Monday, April 27th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,133.15.

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.