Mmbg Investment Advisors CO. Purchases 4,200 Shares of GE Vernova Inc. $GEV

Mmbg Investment Advisors CO. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 324.3% during the second quarter, HoldingsChannel reports. The firm owned 5,495 shares of the company’s stock after purchasing an additional 4,200 shares during the period. Mmbg Investment Advisors CO.’s holdings in GE Vernova were worth $6,459,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC increased its position in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in GE Vernova in the 2nd quarter worth approximately $39,000. Miller Global Investments LLC lifted its position in GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after buying an additional 14 shares during the last quarter. Torren Management LLC purchased a new stake in GE Vernova in the fourth quarter worth approximately $26,000. Finally, Cornerstone Financial Management LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $25,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. TD Cowen increased their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Two 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Down 1.5%

GEV opened at $942.69 on Tuesday. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The business has a 50 day simple moving average of $1,041.97 and a two-hundred day simple moving average of $970.76. The firm has a market capitalization of $251.07 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 3.41 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its 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). The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. Analysts predict that GE Vernova Inc. will post 15.57 EPS for the current year.

About GE Vernova

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.