Zurich Insurance Group Ltd FI Takes Position in GE Vernova Inc. (NYSE:GEV)

Zurich Insurance Group Ltd FI purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 178,034 shares of the company’s stock, valued at approximately $30,535,000. Zurich Insurance Group Ltd FI owned 0.06% of GE Vernova as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Newport Trust Company LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in GE Vernova in the 1st quarter worth about $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova during the 2nd quarter worth approximately $399,770,000. Finally, D1 Capital Partners L.P. raised its holdings in shares of GE Vernova by 94.5% during the second quarter. D1 Capital Partners L.P. now owns 1,367,462 shares of the company’s stock valued at $234,533,000 after acquiring an additional 664,462 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. HSBC assumed coverage on GE Vernova in a research note on Monday, August 12th. They issued a “buy” rating and a $215.00 price target on the stock. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Mizuho raised their price target on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. 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. Finally, Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $223.66.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $255.48 on Wednesday. The firm has a 50 day moving average price of $191.02. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $257.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Analysts predict that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

GE Vernova Company 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.