Parallel Advisors LLC Acquires New Shares in GE Vernova Inc. (NYSE:GEV)

Parallel Advisors LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,904 shares of the company’s stock, valued at approximately $670,000.

A number of other institutional investors also recently bought and sold shares of GEV. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova during the 2nd quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova during the second quarter worth about $25,000. Global Trust Asset Management LLC purchased a new stake in shares of GE Vernova in the second quarter valued at about $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $27,000.

GE Vernova Trading Up 1.9 %

Shares of GE Vernova stock opened at $229.93 on Tuesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $231.51. The firm has a 50-day moving average of $183.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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 firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. Sell-side analysts forecast that GE Vernova Inc. will post 3.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEV. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group initiated coverage on GE Vernova in a research report on Wednesday, September 4th. They issued a “buy” rating and a $261.00 price objective on the stock. Argus initiated coverage on GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective on the stock. William Blair started coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research report on Friday, June 21st. They set an “outperform” rating and a $201.50 target price on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.64.

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.