Old West Investment Management LLC Takes $12.71 Million Position in GE Vernova Inc. $GEV

Old West Investment Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 10,815 shares of the company’s stock, valued at approximately $12,706,000.

Several other large investors also recently bought and sold shares of GEV. World Investment Advisors boosted its holdings in GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after purchasing an additional 2,241 shares during the last quarter. Riverbend Wealth Management LLC purchased a new stake in GE Vernova during the 4th quarter valued at $567,000. Vest Financial LLC raised its stake in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the last quarter. RiverFront Investment Group LLC raised its stake in GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after buying an additional 1,545 shares during the last quarter. Finally, Danske Bank A S lifted its holdings in shares of GE Vernova by 5.5% during the 4th quarter. Danske Bank A S now owns 156,236 shares of the company’s stock valued at $102,111,000 after buying an additional 8,086 shares during the period.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate 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. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company’s fifty day simple moving average is $1,042.72 and its 200-day simple moving average is $968.13. 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 stock has a market capitalization of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter last year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities 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 equities analysts have recently issued reports on GEV shares. Royal Bank Of Canada raised their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on 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. Guggenheim increased their target price on GE Vernova from $1,300.00 to $1,450.00 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 research report on Monday, April 27th. Finally, BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued 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 has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

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.