Tribune Investment Group LP Has $5.93 Million Stock Position in GE Vernova Inc. $GEV

Tribune Investment Group LP decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 20.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,050 shares of the company’s stock after selling 1,260 shares during the period. GE Vernova comprises approximately 2.4% of Tribune Investment Group LP’s holdings, making the stock its 9th largest position. Tribune Investment Group LP’s holdings in GE Vernova were worth $5,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Onyx Bridge Wealth Group LLC boosted its holdings in shares of GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after acquiring an additional 9 shares in the last quarter. Red Door Wealth Management LLC raised its stake in shares of GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. lifted its holdings in GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after acquiring an additional 10 shares during the last quarter. Alpha Financial Partners LLC lifted its stake in GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after purchasing an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC lifted its position in shares of GE Vernova by 2.6% during the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock valued at $457,000 after acquiring an additional 10 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the firm’s 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 owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents 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 the SEC website. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GEV shares. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Mizuho upped their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research report on Monday, April 27th. TD Cowen lifted their target price 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. Finally, Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two investment 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 stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Stock Down 0.0%

GEV opened at $956.69 on Monday. The company has a market capitalization of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. 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 Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The business has a 50-day moving average of $1,042.72 and a 200-day moving average of $969.61.

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

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.