GE Vernova Inc. $GEV Shares Acquired by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 35.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,434 shares of the company’s stock after purchasing an additional 1,409 shares during the period. GE Vernova comprises approximately 0.8% of Wellington Shields Capital Management LLC’s holdings, making the stock its 28th biggest holding. Wellington Shields Capital Management LLC’s holdings in GE Vernova were worth $6,385,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. World Investment Advisors raised its stake in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares during the last quarter. Vest Financial LLC boosted its stake in shares of GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after purchasing an additional 23,956 shares during the last quarter. RiverFront Investment Group LLC boosted its stake in shares of GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after purchasing an additional 1,545 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of GE Vernova during the second quarter worth about $8,337,000. Finally, Danske Bank A S grew its holdings in shares of GE Vernova by 5.5% during the fourth quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after buying an additional 8,086 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $942.69 on Tuesday. The company has a market cap of $251.07 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. 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 stock’s 50-day moving average is $1,041.97 and its 200-day moving average is $970.76.

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

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction 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 sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Mizuho raised their price objective on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

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.