Rhumbline Advisers Invests $81.59 Million in GE Vernova Inc. (NYSE:GEV)

Rhumbline Advisers purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 475,685 shares of the company’s stock, valued at approximately $81,585,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Anderson Hoagland & Co. acquired a new position in shares of GE Vernova during the first quarter worth $1,720,000. Maryland State Retirement & Pension System acquired a new position in shares of GE Vernova in the first quarter valued at approximately $2,892,000. Valeo Financial Advisors LLC acquired a new position in shares of GE Vernova in the first quarter valued at approximately $673,000. Boit C F David bought a new position in GE Vernova in the 1st quarter valued at approximately $149,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in GE Vernova during the 1st quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GEV shares. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 price target for the company. JPMorgan Chase & Co. upped their price target on GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Royal Bank of Canada restated an “outperform” rating and set a $180.00 price target on shares of GE Vernova in a report on Monday, July 22nd. Finally, Argus started coverage on shares of GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.83.

GE Vernova Price Performance

GEV opened at $192.55 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $202.60. The firm’s 50-day moving average is $176.60.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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. Analysts predict that GE Vernova Inc. will post 3.1 earnings per share for the current 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.