878 Shares in GE Vernova Inc. $GEV Purchased by Peachtree Investment Partners LLC

Peachtree Investment Partners LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 878 shares of the company’s stock, valued at approximately $1,032,000.

Several other large investors have also made changes to their positions in the company. Auto Owners Insurance Co grew its stake in 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 during the period. Vanguard Group Inc. increased its position in GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the period. State Street Corp raised its position in shares of GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after buying an additional 231,392 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the last quarter. Finally, Morgan Stanley raised its holdings in GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after buying an additional 685,466 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $956.69 on Friday. The firm has a market cap of $254.80 billion, a PE ratio of 27.38, a PEG ratio of 3.45 and a beta of 1.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average price is $1,042.72 and its two-hundred day moving average price is $968.13.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company’s quarterly revenue 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. Equities research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. TD Cowen increased their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Guggenheim boosted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Finally, Royal Bank Of Canada lifted their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given 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 a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

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.