UNIVEST FINANCIAL Corp Purchases Shares of 625 GE Vernova Inc. $GEV

UNIVEST FINANCIAL Corp purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 625 shares of the company’s stock, valued at approximately $734,000.

A number of other hedge funds have also recently modified their holdings of the company. Auto Owners Insurance Co boosted its holdings in shares of 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 worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. BlackRock Inc. purchased a new position in GE Vernova during the 2nd quarter valued at about $25,569,630,000. Norges Bank bought a new position in GE Vernova during the 4th quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its position in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in GE Vernova in the 2nd quarter worth approximately $2,497,472,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GEV. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. TD Cowen upped their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. 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. Finally, BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research report on Monday, April 27th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Stock Performance

GE Vernova stock opened at $956.69 on Friday. The stock’s 50 day simple moving average is $1,042.72 and its two-hundred day simple moving average is $968.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (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 firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the company posted $1.86 EPS. The firm’s revenue was up 21.9% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the 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 completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

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.