MidFirst Bank Makes New $786,000 Investment in GE Vernova Inc. $GEV

MidFirst Bank purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 669 shares of the company’s stock, valued at approximately $786,000.

A number of other institutional investors also recently modified their holdings of GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. lifted its holdings in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares during the period. Jump Financial LLC acquired a new position in GE Vernova in the second quarter valued at $258,000. Ossiam bought a new stake in GE Vernova during the second quarter valued at $42,000. Finally, Nebula Research & Development LLC boosted its position in GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares during the last quarter.

GE Vernova Stock Down 1.0%

GEV stock opened at $956.69 on Friday. The stock’s 50 day simple moving average is $1,042.72 and its 200 day simple moving average is $968.13. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company has a market cap 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.

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

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Guggenheim increased their price target 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. BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Oppenheimer raised their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Finally, Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.