M3 Wealth Management LLC Takes $7.20 Million Position in GE Vernova Inc. $GEV

M3 Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 6,128 shares of the company’s stock, valued at approximately $7,200,000. GE Vernova accounts for about 4.7% of M3 Wealth Management LLC’s portfolio, making the stock its 4th largest position.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after buying an additional 26 shares during the last quarter. Jump Financial LLC bought a new position in GE Vernova during the second quarter worth about $258,000. Ossiam acquired a new position in shares of GE Vernova during the 2nd quarter worth about $42,000. Finally, Nebula Research & Development LLC grew its position in shares of GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after buying an additional 323 shares during the period.

Insider Activity

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 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 SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley downgraded shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Jefferies Financial Group restated a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. Royal Bank Of Canada increased their target price on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Robert W. Baird lifted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two 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 company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Price Performance

Shares of GEV opened at $965.58 on Friday. 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 50 day simple moving average of $1,042.39 and a 200 day simple moving average of $968.21. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The firm has a market capitalization of $257.16 billion, a PE ratio of 27.64, a P/E/G ratio of 3.52 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its earnings results 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 for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the business posted $1.86 earnings per share. The business’s quarterly revenue was up 21.9% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

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.