OneDigital Investment Advisors LLC Purchases Shares of 6,695 GE Vernova Inc. $GEV

OneDigital Investment Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,695 shares of the company’s stock, valued at approximately $7,866,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors boosted its stake in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after acquiring an additional 2,241 shares in the last quarter. Riverbend Wealth Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $567,000. Vest Financial LLC increased its stake in shares of GE Vernova by 56.7% in the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares in the last quarter. RiverFront Investment Group LLC raised its holdings in GE Vernova by 239.2% in 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 period. Finally, Danske Bank A S raised its holdings in GE Vernova by 5.5% in the 4th quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after purchasing an additional 8,086 shares during the period.

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 stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Down 1.0%

GEV stock opened at $956.69 on Friday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The business’s 50-day moving average is $1,042.72 and its 200 day moving average is $968.13. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.45 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its 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 firm had revenue of $11.10 billion for the quarter, compared to analyst estimates 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 was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GEV shares. Oppenheimer increased their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research 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. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.