RiverFront Investment Group LLC Raises Position in GE Vernova Inc. $GEV

RiverFront Investment Group LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 239.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,191 shares of the company’s stock after buying an additional 1,545 shares during the period. RiverFront Investment Group LLC’s holdings in GE Vernova were worth $1,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp lifted its holdings in GE Vernova by 1.3% in the third quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after buying an additional 140,500 shares during the period. Northern Trust Corp lifted its holdings in GE Vernova by 1.8% in the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after buying an additional 51,738 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares during the period. Finally, Invesco Ltd. lifted its holdings in GE Vernova by 7.1% in the third quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock worth $1,460,841,000 after buying an additional 158,481 shares during the period.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on GEV. Wells Fargo & Company raised their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Citigroup raised their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Jefferies Financial Group raised their price objective on shares of GE Vernova from $965.00 to $1,350.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Susquehanna set a $1,300.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,090.76.

GE Vernova Stock Down 3.4%

GEV stock opened at $1,013.61 on Tuesday. GE Vernova Inc. has a twelve month low of $421.64 and a twelve month high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm has a market cap of $272.38 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.93 and a beta of 1.51. The business has a 50 day moving average of $961.74 and a 200 day moving average of $779.07.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

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.