Royal London Asset Management Ltd. Invests $18 Million in GE Vernova Inc. (NYSE:GEV)

Royal London Asset Management Ltd. acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 104,923 shares of the company’s stock, valued at approximately $17,995,000.

Several other large investors have also recently added to or reduced their stakes in GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of GE Vernova by 1.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after acquiring an additional 61 shares in the last quarter. Wedmont Private Capital grew its stake in GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after purchasing an additional 109 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in GE Vernova during the 2nd quarter worth about $25,000. Global Trust Asset Management LLC purchased a new stake in GE Vernova during the 2nd quarter worth about $26,000. Finally, Gradient Investments LLC acquired a new stake in GE Vernova in the 2nd quarter valued at about $27,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $209.15 on Thursday. The firm has a fifty day simple moving average of $180.04. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $210.12.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $8.42 billion. As a group, equities research analysts expect that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on GEV shares. Daiwa Capital Markets started coverage on shares of GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 target price on the stock. Citigroup assumed coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $195.00 to $216.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group started coverage on GE Vernova in a report on Wednesday, September 4th. They set a “buy” rating and a $261.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.28.

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.