Waverly Advisors LLC Grows Stake in GE Vernova Inc. $GEV

Waverly Advisors LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.9% in the second quarter, HoldingsChannel reports. The firm owned 18,651 shares of the company’s stock after acquiring an additional 864 shares during the period. Waverly Advisors LLC’s holdings in GE Vernova were worth $21,913,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter worth about $25,000. Manning & Napier Advisors LLC grew its holdings in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares in the last quarter. Navalign LLC bought a new position in GE Vernova during the 4th quarter worth about $27,000. Finally, Commonwealth Retirement Investments LLC purchased a new position in GE Vernova during the 4th quarter valued at about $30,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, TD Cowen increased their target price 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. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,155.28.

GE Vernova Stock Up 3.0%

NYSE:GEV opened at $970.55 on Wednesday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The stock has a market capitalization of $258.49 billion, a P/E ratio of 27.78, a P/E/G ratio of 4.38 and a beta of 1.15. 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 company’s 50-day simple moving average is $1,009.73 and its 200-day simple moving average is $981.53.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for 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%.The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 15.36 earnings per share for the current fiscal year.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.