Left Brain Wealth Management LLC Takes $3.75 Million Position in GE Vernova Inc. $GEV

Left Brain Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,191 shares of the company’s stock, valued at approximately $3,749,000.

Several other large investors have also recently made changes to their positions in the company. Auto Owners Insurance Co boosted its stake in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. raised its position in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares during the last quarter. State Street Corp lifted its stake in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after buying an additional 231,392 shares in the last quarter. Geode Capital Management LLC boosted its position in GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Finally, Morgan Stanley boosted its position in GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $1,082.30 on Tuesday. 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 company has a 50-day moving average price of $1,037.03 and a 200 day moving average price of $962.56. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The stock has a market cap of $288.25 billion, a P/E ratio of 30.98, a PEG ratio of 3.79 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 for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GEV shares. TD Cowen increased their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Argus set a $1,300.00 target price on GE Vernova in a report on Monday, April 27th. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Two equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

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.