Peachtree Investment Partners LLC Purchases New Shares in GE Vernova Inc. $GEV

Peachtree Investment Partners LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel reports. The institutional investor purchased 878 shares of the company’s stock, valued at approximately $1,032,000.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Financial Management LLC bought a new position in GE Vernova in the 4th quarter worth about $25,000. Wealth Watch Advisors INC bought a new stake in GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC purchased a new position in GE Vernova in the fourth quarter worth $26,000. Manning & Napier Advisors LLC lifted its stake in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC purchased a new stake in GE Vernova in the fourth quarter worth approximately $27,000.

GE Vernova Trading Down 1.0%

NYSE GEV opened at $956.69 on Friday. The company 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 Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a fifty day moving average of $1,042.72 and a 200 day moving average of $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.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion during 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%.The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 EPS. Research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Mizuho upped their price objective on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Company 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.