Magnolia Capital Advisors LLC Takes $2.70 Million Position in GE Vernova Inc. (NYSE:GEV)

Magnolia Capital Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the SEC. The firm bought 15,750 shares of the company’s stock, valued at approximately $2,701,000.

A number of other institutional investors also recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova during the second quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of GE Vernova in the second quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova during the second quarter worth about $26,000. Finally, Timber Creek Capital Management LLC acquired a new position in GE Vernova in the 2nd quarter worth approximately $27,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEV. Mizuho upped their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets assumed coverage on GE Vernova in a report on Friday, September 13th. They issued an “outperform” rating and a $245.00 price objective for the company. Daiwa Capital Markets started coverage on GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 target price on the stock. Morgan Stanley boosted their price target on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $300.00 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.48.

GE Vernova Stock Down 0.5 %

GE Vernova stock opened at $249.86 on Monday. The business’s fifty day simple moving average 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 released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 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 analyst estimates of $8.42 billion. Equities research analysts anticipate 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.