Forest Avenue Capital Management LP Buys 24,400 Shares of GE Vernova Inc. (NYSE:GEV)

Forest Avenue Capital Management LP lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 20.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 143,100 shares of the company’s stock after buying an additional 24,400 shares during the period. GE Vernova makes up 3.4% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 16th biggest position. Forest Avenue Capital Management LP’s holdings in GE Vernova were worth $24,543,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Aspire Private Capital LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth $40,000. GAMMA Investing LLC bought a new position in shares of GE Vernova in the second quarter worth about $776,000. Sequoia Financial Advisors LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $2,724,000. Parsons Capital Management Inc. RI acquired a new position in shares of GE Vernova during the second quarter worth $275,000. Finally, Armstrong Henry H Associates Inc. bought a new position in shares of GE Vernova in the 2nd quarter valued at $523,000.

GE Vernova Stock Performance

GEV stock opened at $245.46 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $250.85. The business’s 50 day moving average price is $188.08.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, equities research analysts forecast that GE Vernova Inc. will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GEV shares. Citigroup assumed coverage on GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective on the stock. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $300.00 in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $219.42.

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.