79,459 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Arizona State Retirement System

Arizona State Retirement System bought a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 79,459 shares of the company’s stock, valued at approximately $13,628,000.

A number of other institutional investors also recently added to or reduced their stakes in GEV. Victory Capital Management Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $15,866,000. Denver PWM LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $75,000. ANTIPODES PARTNERS Ltd raised its position in shares of GE Vernova by 40,057.8% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 93,166 shares of the company’s stock worth $15,979,000 after acquiring an additional 92,934 shares in the last quarter. TD Capital Management LLC purchased a new stake in GE Vernova during the second quarter worth approximately $52,000. Finally, BBR Partners LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $335,000.

GE Vernova Price Performance

GEV stock opened at $198.47 on Friday. The firm’s 50 day moving average is $177.98. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $204.19.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, analysts forecast that GE Vernova Inc. will post 3.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on GEV. Citigroup initiated coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 target price on the stock. Mizuho lifted their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Evercore ISI boosted their target price on GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Redburn Atlantic started coverage on GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target on the stock. Finally, Argus started coverage on GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $194.28.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.