ProShare Advisors LLC Acquires New Shares in GE Vernova Inc. (NYSE:GEV)

ProShare Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel reports. The fund bought 38,572 shares of the company’s stock, valued at approximately $6,615,000.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Argus started coverage on shares of GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price for the company. The Goldman Sachs Group raised their target price on GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Daiwa America raised GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Citigroup initiated coverage on GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Three 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, the company has an average rating of “Moderate Buy” and an average target price of $223.66.

GE Vernova Stock Performance

Shares of GEV 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 business’s 50 day moving average price is $191.02.

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

GE Vernova 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.