Axa S.A. Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Axa S.A. bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,245 shares of the company’s stock, valued at approximately $3,472,000.

Several other hedge funds have also made changes to their positions in GEV. AlTi Global Inc. acquired a new position in GE Vernova in the second quarter worth about $239,000. Albar Capital Ltd acquired a new position in GE Vernova in the second quarter worth about $4,188,000. Caxton Associates LP acquired a new position in GE Vernova in the second quarter worth about $204,000. Merewether Investment Management LP raised its position in GE Vernova by 342.6% in the second quarter. Merewether Investment Management LP now owns 743,416 shares of the company’s stock worth $127,503,000 after purchasing an additional 575,458 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in GE Vernova in the second quarter worth about $22,969,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Evercore ISI increased their price target on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group raised their price objective 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. JPMorgan Chase & Co. boosted their target price on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Daiwa America raised GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Finally, Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.48.

GE Vernova Stock Performance

NYSE:GEV opened at $249.86 on Monday. The stock’s fifty day moving average price is $196.33. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $258.64.

GE Vernova (NYSE:GEV) last issued its earnings results 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. On average, analysts expect that GE Vernova Inc. will post 2.83 earnings per share 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.