816 Shares in GE Vernova Inc. $GEV Acquired by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc bought a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 816 shares of the company’s stock, valued at approximately $959,000.

A number of other hedge funds have also added to or reduced their stakes in GEV. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova in the 4th quarter worth $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter valued at $25,000. Torren Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at $26,000. Manning & Napier Advisors LLC lifted its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares during the period. Finally, Navalign LLC bought a new position in GE Vernova in the fourth quarter valued at about $27,000.

GE Vernova Stock Down 1.0%

NYSE GEV opened at $956.69 on Friday. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $254.80 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The stock’s 50-day moving average price is $1,042.72 and its 200-day moving average price is $968.13.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 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%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. On average, equities research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 $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 is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Guggenheim boosted their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Morgan Stanley cut shares of GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.