Ballentine Partners LLC Makes New $697,000 Investment in GE Vernova Inc. (NYSE:GEV)

Ballentine Partners LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,061 shares of the company’s stock, valued at approximately $697,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in GE Vernova in the 2nd quarter worth $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in shares of GE Vernova in the first quarter worth about $367,474,000. Assenagon Asset Management S.A. bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $217,569,000. Waverton Investment Management Ltd purchased a new stake in GE Vernova during the 2nd quarter valued at about $113,497,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in GE Vernova during the 2nd quarter worth approximately $104,273,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Redburn Atlantic started coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on GE Vernova in a research note on Wednesday, September 4th. They issued a “buy” rating and a $261.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.28.

GE Vernova Stock Performance

NYSE GEV opened at $201.81 on Tuesday. The company’s 50 day moving average price is $178.67. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $204.19.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. Research analysts predict that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

GE Vernova Company 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.