669 Shares in GE Vernova Inc. $GEV Acquired by MidFirst Bank

MidFirst Bank acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 669 shares of the company’s stock, valued at approximately $786,000.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. Auto Owners Insurance Co increased 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 buying an additional 34,826,773 shares in the last quarter. BlackRock Inc. bought a new position in shares of GE Vernova in the 2nd quarter valued at $25,569,630,000. Norges Bank acquired a new stake in shares of GE Vernova during the 4th quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 acquiring an additional 2,406,326 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in GE Vernova during the 2nd quarter worth $2,497,472,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $956.69 on Friday. 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 stock has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. The company’s fifty day moving average is $1,042.72 and its 200 day moving average is $968.13.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.86 earnings per share. Sell-side analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. 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 report on Thursday, July 23rd. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. 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 note on Thursday, July 23rd. Finally, Argus set a $1,300.00 price objective on 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 given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

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.