Clearstead Trust LLC Makes New $1.28 Million Investment in GE Vernova Inc. $GEV

Clearstead Trust LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,091 shares of the company's stock, valued at approximately $1,281,000.

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Other hedge funds have also modified their holdings of the company. Maridea Wealth Management LLC purchased a new position in GE Vernova in the second quarter valued at $559,000. Bridgewater Advisors Inc. purchased a new stake in GE Vernova during the 2nd quarter worth about $2,218,000. SFE Investment Counsel purchased a new stake in GE Vernova during the 2nd quarter worth about $5,492,000. BIP Wealth LLC acquired a new stake in GE Vernova in the 2nd quarter valued at about $2,329,000. Finally, Phillips Financial Management LLC acquired a new stake in GE Vernova in the 2nd quarter valued at about $240,000.

GE Vernova Stock Down 2.2%

Shares of NYSE GEV opened at $965.58 on Friday. The company has a market capitalization of $257.16 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The business has a 50-day moving average of $1,042.39 and a two-hundred day moving average of $968.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

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GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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 business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. The company's revenue was up 21.9% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was 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 owned 1,835 shares in the company, valued at $1,739,726.80. The trade was 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 available through the SEC website. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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A number of equities analysts have recently commented on the company. Sanford C. Bernstein boosted their price objective on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of GE Vernova in a report on Friday, August 7th. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Barclays boosted their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,133.15.

Read Our Latest Stock Report on GE Vernova

About GE Vernova

(Free Report)

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.

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