Phillips Wealth Planners LLC Makes New Investment in GE Vernova Inc. $GEV

Phillips Wealth Planners LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 650 shares of the company’s stock, valued at approximately $700,000.

Several other large investors also recently modified their holdings of GEV. Trust Co. of Vermont acquired a new position in GE Vernova in the second quarter valued at about $3,160,000. Principle Wealth Partners LLC acquired a new stake in GE Vernova during the second quarter worth about $3,022,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in GE Vernova during the second quarter worth about $201,000. Requisite Capital Management LLC acquired a new stake in GE Vernova during the second quarter worth about $414,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in GE Vernova in the 2nd quarter valued at about $272,000.

Insider Buying and Selling at GE Vernova

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

GE Vernova Trading Down 1.0%

Shares of GE Vernova stock opened at $956.69 on Friday. The firm has a market capitalization of $254.80 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. 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’s 50 day moving average is $1,042.72 and its 200 day moving average is $968.13. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. Equities research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on GEV shares. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. Morgan Stanley cut shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Sanford C. Bernstein upped their target price 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. Finally, Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.