Prime Capital Investment Advisors LLC Takes $1.38 Million Position in GE Vernova Inc. (NYSE:GEV)

Prime Capital Investment Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,017 shares of the company’s stock, valued at approximately $1,375,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of GE Vernova in the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova during the first quarter worth $367,474,000. Assenagon Asset Management S.A. purchased a new stake in shares of GE Vernova during the second quarter valued at $217,569,000. Waverton Investment Management Ltd acquired a new position in shares of GE Vernova in the 2nd quarter valued at $113,497,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in GE Vernova in the 2nd quarter worth about $104,273,000.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. BMO Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday, September 13th. They set an “outperform” rating and a $245.00 price objective for the company. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Mizuho increased their price objective on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $217.64.

GE Vernova Stock Performance

Shares of GEV opened at $238.57 on Wednesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $240.00. The company’s 50 day simple moving average is $184.31.

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, 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. Analysts predict that GE Vernova Inc. will post 3.02 earnings per share for the current 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.