CoreCap Advisors LLC Takes $425,000 Position in GE Vernova Inc. (NYSE:GEV)

CoreCap Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel reports. The fund bought 2,477 shares of the company’s stock, valued at approximately $425,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Aspire Private Capital LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $40,000. GAMMA Investing LLC acquired a new position in shares of GE Vernova in the second quarter worth about $776,000. Sequoia Financial Advisors LLC purchased a new position in shares of GE Vernova in the second quarter worth approximately $2,724,000. Parsons Capital Management Inc. RI acquired a new stake in shares of GE Vernova during the second quarter valued at approximately $275,000. Finally, Armstrong Henry H Associates Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $523,000.

GE Vernova Stock Performance

NYSE GEV opened at $225.59 on Friday. The company’s 50-day moving average is $181.89. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $228.68.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. Analysts anticipate that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Argus began coverage on shares of GE Vernova in a research report on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective on the stock. Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. William Blair started coverage on GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. The Goldman Sachs Group lifted their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Morgan Stanley increased their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.03.

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.