Clearbridge Investments LLC Buys New Position in GE Vernova Inc. (NYSE:GEV)

Clearbridge Investments LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 407,167 shares of the company’s stock, valued at approximately $69,833,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. Deseret Mutual Benefit Administrators acquired a new stake in GE Vernova during the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova during the second quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at $25,000. Global Trust Asset Management LLC acquired a new position in GE Vernova in the second quarter valued at $26,000. Finally, Timber Creek Capital Management LLC purchased a new position in GE Vernova during the second quarter worth about $27,000.

GE Vernova Stock Performance

NYSE GEV opened at $252.43 on Thursday. The stock’s fifty day moving average price is $201.61. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $258.64.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, equities research analysts anticipate that GE Vernova Inc. will post 2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GEV shares. Redburn Atlantic assumed coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective for the company. Truist Financial started coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $300.00 in a research note on Tuesday, September 17th. Daiwa Capital Markets began coverage on GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Finally, Barclays boosted their price target on GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.98.

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.