BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Invests $9 Million in GE Vernova Inc. (NYSE:GEV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 52,496 shares of the company’s stock, valued at approximately $9,004,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Anderson Hoagland & Co. acquired a new stake in shares of GE Vernova during the first quarter worth about $1,720,000. Maryland State Retirement & Pension System acquired a new stake in shares of GE Vernova in the first quarter worth $2,892,000. Boit C F David acquired a new position in GE Vernova during the first quarter valued at $149,000. ANTIPODES PARTNERS Ltd acquired a new position in GE Vernova during the first quarter valued at $30,000. Finally, Nwam LLC purchased a new stake in GE Vernova in the first quarter valued at $1,531,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GEV shares. Evercore ISI lifted their price target on GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Argus began coverage on GE Vernova in a research report on Thursday, June 13th. They set a “buy” rating and a $190.00 price target for the company. Royal Bank of Canada lifted their price objective on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Finally, HSBC started coverage on shares of GE Vernova in a research note on Monday, August 12th. They set a “buy” rating and a $215.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $223.66.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $255.05 on Thursday. The company has a 50-day simple moving average of $191.02. GE Vernova Inc. has a one year low of $115.00 and a one year high of $257.75.

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

About GE Vernova

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.