1,712,424 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,712,424 shares of the company’s stock, valued at approximately $293,699,000. Legal & General Group Plc owned about 0.62% of GE Vernova as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after purchasing an additional 61 shares in the last quarter. Wedmont Private Capital increased its position in GE Vernova by 3.2% during the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after buying an additional 109 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new position in GE Vernova during the second quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova in the second quarter worth about $25,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the second quarter worth about $25,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective on the stock. Truist Financial started coverage on shares of GE Vernova in a research report on Thursday. They issued a “buy” rating and a $300.00 price target on the stock. William Blair assumed coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. 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. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.48.

GE Vernova Trading Down 0.5 %

Shares of NYSE:GEV opened at $249.86 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $258.64. The stock’s 50 day moving average price is $196.33.

GE Vernova (NYSE:GEV) last issued its 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 firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. Research analysts expect that GE Vernova Inc. will post 2.83 EPS for the current 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.