Public Employees Retirement Association of Colorado Takes $6.60 Million Position in GE Vernova Inc. (NYSE:GEV)

Public Employees Retirement Association of Colorado purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 38,497 shares of the company’s stock, valued at approximately $6,603,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Global Trust Asset Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $26,000. Finally, Gradient Investments LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $27,000.

GE Vernova Stock Up 0.4 %

Shares of GE Vernova stock opened at $245.46 on Friday. The firm has a fifty day moving average of $188.08. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $250.85.

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, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. As a group, research analysts expect that GE Vernova Inc. will post 3.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GEV shares. Evercore ISI lifted their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Morgan Stanley lifted their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday. Redburn Atlantic started coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $219.42.

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.