GE Vernova Inc. (NYSE:GEV) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4,735.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 725,250 shares of the company’s stock after purchasing an additional 710,250 shares during the quarter. Point72 Asset Management L.P. owned about 0.26% of GE Vernova worth $124,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $650,140,000. Bank of New York Mellon Corp bought a new position in GE Vernova in the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova in the 1st quarter worth approximately $367,474,000. Marshall Wace LLP bought a new position in GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc bought a new position in GE Vernova in the 2nd quarter worth approximately $293,699,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. Morgan Stanley increased their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Barclays began coverage on GE Vernova in a report on Monday, September 16th. They issued an “overweight” rating and a $250.00 price objective for the company. Guggenheim began coverage on GE Vernova in a report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price objective for the company. Mizuho increased their price target on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.48.

GE Vernova Stock Down 0.5 %

GEV opened at $249.86 on Monday. The firm has a fifty day simple moving average of $196.33. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $258.64.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) 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 analysts’ expectations of $8.42 billion. Sell-side analysts anticipate that GE Vernova Inc. will post 2.83 EPS for the current fiscal 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.