Engle Capital Management L.P. Invests $4.29 Million in GE Vernova Inc. (NYSE:GEV)

Engle Capital Management L.P. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the company’s stock, valued at approximately $4,288,000. GE Vernova comprises approximately 1.5% of Engle Capital Management L.P.’s holdings, making the stock its 19th biggest holding.

Other large investors have also modified their holdings of the company. Newport Trust Company LLC bought a new stake in GE Vernova in the 2nd quarter valued at $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova in the first quarter valued at about $367,474,000. Marshall Wace LLP acquired a new position in GE Vernova in the second quarter worth about $399,770,000. Finally, Lone Pine Capital LLC bought a new position in GE Vernova during the second quarter worth about $253,322,000.

GE Vernova Trading Down 0.2 %

GE Vernova stock opened at $255.05 on Thursday. The firm has a 50-day moving average price of $191.02. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $257.75.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities analysts predict that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Citigroup assumed coverage on GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price target on the stock. HSBC started coverage on GE Vernova in a report on Monday, August 12th. They set a “buy” rating and a $215.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Daiwa Capital Markets assumed coverage on shares of GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price target for the company. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.