Kelleher Financial Advisors Takes Position in GE Vernova Inc. $GEV

Kelleher Financial Advisors bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 635 shares of the company’s stock, valued at approximately $746,000.

A number of other hedge funds have also recently bought and sold shares of GEV. World Investment Advisors boosted its position in 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 during the period. Riverbend Wealth Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at $567,000. Vest Financial LLC boosted its holdings in shares of GE Vernova by 56.7% during the fourth 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 period. RiverFront Investment Group LLC grew its stake in GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Danske Bank A S grew its position in GE Vernova by 5.5% in the fourth quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after acquiring an additional 8,086 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 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 document filed with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Down 2.2%

GEV stock opened at $965.58 on Friday. 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 firm has a market capitalization of $257.16 billion, a PE ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The business’s 50 day simple moving average is $1,042.39 and its 200 day simple moving average is $968.21.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company 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 firm’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current year.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Guggenheim raised their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Sanford C. Bernstein raised their price objective on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company 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.