Gabelli Funds LLC Makes New $16.80 Million Investment in GE Vernova Inc. (NYSE:GEV)

Gabelli Funds LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel.com reports. The fund bought 97,978 shares of the company’s stock, valued at approximately $16,804,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after acquiring an additional 61 shares in the last quarter. Wedmont Private Capital grew its stake in GE Vernova by 3.2% in the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after purchasing an additional 109 shares during the period. Deseret Mutual Benefit Administrators bought a new position in GE Vernova in the second quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new position in GE Vernova during the second quarter valued at $25,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at $25,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEV shares. Jefferies Financial Group lifted their price target on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a research report on Friday. Hsbc Global Res upgraded shares of GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. William Blair assumed coverage on GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Morgan Stanley lifted their price objective on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Royal Bank of Canada increased their target price on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $219.42.

GE Vernova Stock Performance

Shares of GEV stock opened at $245.46 on Monday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $250.85. The stock has a 50 day moving average of $188.08.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, equities analysts predict that GE Vernova Inc. will post 3.02 EPS for the current year.

About GE Vernova

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.