Tiemann Investment Advisors LLC Invests $1.05 Million in GE Vernova Inc. $GEV

Tiemann Investment Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 890 shares of the company’s stock, valued at approximately $1,046,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Auto Owners Insurance Co lifted its position in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. BlackRock Inc. purchased a new stake in GE Vernova in the second quarter worth about $25,569,630,000. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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, Bank of New York Mellon Corp bought a new position in shares of GE Vernova in the second quarter worth about $2,497,472,000.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm’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 of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

NYSE GEV opened at $956.69 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The business has a 50-day moving average price of $1,042.72 and a 200-day moving average price of $969.61. The firm has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEV. Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Sanford C. Bernstein upped their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently 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.