TFR Capital LLC. Takes Position in GE Vernova Inc. $GEV

TFR Capital LLC. acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,306 shares of the company’s stock, valued at approximately $6,234,000. GE Vernova makes up 1.8% of TFR Capital LLC.’s investment portfolio, making the stock its 13th largest position.

Other institutional investors have also recently made changes to their positions in the company. Auto Owners Insurance Co grew its stake in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp boosted its holdings in GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares during the period. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the last quarter. Finally, Morgan Stanley increased its stake in GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after buying an additional 685,466 shares during the period.

GE Vernova Stock Down 2.2%

Shares of NYSE GEV opened at $965.58 on Friday. The stock has a market capitalization of $257.16 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The stock’s fifty day simple moving average is $1,042.39 and its two-hundred day simple moving average is $968.21.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for 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%. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. As a group, analysts expect that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the business’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 completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Robert W. Baird lifted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.