OMC Financial Services LTD Makes New Investment in GE Vernova Inc. $GEV

OMC Financial Services LTD bought a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,821 shares of the company’s stock, valued at approximately $6,839,000. GE Vernova comprises 2.3% of OMC Financial Services LTD’s investment portfolio, making the stock its 16th biggest position.

Other hedge funds have also made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the third quarter worth approximately $25,000. Torren Management LLC purchased a new position in GE Vernova in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC increased 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 acquiring an additional 13 shares during the last quarter. Finally, Navalign LLC purchased a new stake in GE Vernova in the fourth quarter valued at $27,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on GEV shares. Argus set a $1,300.00 price target on GE Vernova in a research note on Monday, April 27th. Sanford C. Bernstein raised 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. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Guggenheim upped their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, TD Cowen upped their target price on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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 business’s stock in a transaction 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 completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

GE Vernova Trading Down 1.0%

Shares of GEV stock opened at $956.69 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 market capitalization of $254.80 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21. The company has a 50 day moving average price of $1,042.72 and a 200 day moving average price of $968.13. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

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 the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. Equities research analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova 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.