Electron Capital Partners LLC Has $290.59 Million Stake in GE Vernova Inc. (NYSE:GEV)

Electron Capital Partners LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1,641.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,694,296 shares of the company’s stock after purchasing an additional 1,596,996 shares during the period. GE Vernova comprises about 6.6% of Electron Capital Partners LLC’s holdings, making the stock its 3rd biggest position. Electron Capital Partners LLC’s holdings in GE Vernova were worth $290,589,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GEV. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in shares of GE Vernova in the 1st quarter valued at about $367,474,000. Marshall Wace LLP bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $399,770,000. Finally, Lone Pine Capital LLC bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $253,322,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $255.05 on Thursday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $257.75. The company has a fifty day moving average of $191.02.

GE Vernova (NYSE:GEV) last posted 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 during the quarter, compared to analyst estimates of $8.42 billion. As a group, analysts anticipate that GE Vernova Inc. will post 2.83 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on GEV. Mizuho boosted their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets initiated coverage on shares of GE Vernova in a report on Friday, September 13th. They set an “outperform” rating and a $245.00 price objective on the stock. The Goldman Sachs Group increased their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. William Blair assumed coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Royal Bank of Canada upped their price target on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $223.66.

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.