Forsta AP Fonden Makes New $8.70 Million Investment in GE Vernova Inc. (NYSE:GEV)

Forsta AP Fonden purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,731 shares of the company’s stock, valued at approximately $8,701,000.

Several other hedge funds have also modified their holdings of GEV. American Century Companies Inc. acquired a new position in GE Vernova during the 2nd quarter worth $4,940,000. State of New Jersey Common Pension Fund D acquired a new position in shares of GE Vernova during the second quarter valued at $17,603,000. Bahl & Gaynor Inc. bought a new position in GE Vernova in the second quarter valued at about $213,000. Hazlett Burt & Watson Inc. acquired a new stake in GE Vernova in the second quarter worth about $66,000. Finally, Mitchell Sinkler & Starr PA bought a new stake in GE Vernova during the 2nd quarter worth about $417,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Morgan Stanley upped their price objective on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a report on Friday. Argus began coverage on GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Evercore ISI boosted their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $203.03.

GE Vernova Stock Up 5.0 %

GEV stock opened at $226.01 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $228.68. The stock’s 50-day moving average price is $181.89.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

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.