Duquesne Family Office LLC Invests $50.95 Million in GE Vernova Inc. (NYSE:GEV)

Duquesne Family Office LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 297,068 shares of the company’s stock, valued at approximately $50,950,000. GE Vernova comprises 1.7% of Duquesne Family Office LLC’s portfolio, making the stock its 18th biggest position. Duquesne Family Office LLC owned 0.11% of GE Vernova at the end of the most recent quarter.

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

GE Vernova Price Performance

Shares of GE Vernova stock opened at $255.05 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $257.75. The company’s 50 day moving average is $191.02.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts predict that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. Morgan Stanley boosted 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. William Blair began coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Evercore ISI raised their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Redburn Atlantic started coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price on the stock. Finally, Argus began coverage on GE Vernova in a research report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.66.

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.