Mmbg Investment Advisors CO. Increases Holdings in GE Vernova Inc. $GEV

Mmbg Investment Advisors CO. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 324.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,495 shares of the company’s stock after purchasing an additional 4,200 shares during the period. Mmbg Investment Advisors CO.’s holdings in GE Vernova were worth $6,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. World Investment Advisors grew its stake in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after buying an additional 2,241 shares in the last quarter. Vest Financial LLC lifted its position in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after acquiring an additional 23,956 shares in the last quarter. RiverFront Investment Group LLC boosted its holdings in shares of GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after acquiring an additional 1,545 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of GE Vernova in the second quarter worth $8,337,000. Finally, Danske Bank A S boosted its holdings in shares of GE Vernova by 5.5% in the fourth quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after acquiring an additional 8,086 shares during the period.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Guggenheim boosted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. TD Cowen upped their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Sanford C. Bernstein increased their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Mizuho raised their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly 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 is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

GE Vernova Trading Down 1.5%

Shares of GEV stock opened at $942.69 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a market capitalization of $251.07 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The business’s fifty day moving average is $1,041.97 and its 200 day moving average is $970.76.

GE Vernova (NYSE:GEV) last announced its 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 the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, equities research analysts anticipate 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.