Nippon Life Global Investors Americas Inc. Invests $61.07 Million in GE Vernova Inc. $GEV

Nippon Life Global Investors Americas Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 51,960 shares of the company’s stock, valued at approximately $61,068,000. GE Vernova makes up about 2.4% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $258,000. Ossiam purchased a new stake in shares of GE Vernova during the second quarter valued at $42,000. Finally, Nebula Research & Development LLC raised its position in GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after buying an additional 323 shares during the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on 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 approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

NYSE:GEV opened at $956.69 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a 50-day simple moving average of $1,042.72 and a two-hundred day simple moving average of $968.13. The firm has a market capitalization of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during 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 firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. Analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GEV shares. Sanford C. Bernstein raised their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Jefferies Financial Group restated a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

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.