GE Vernova Inc. (NYSE:GEV) is Encompass Capital Advisors LLC’s 8th Largest Position

Encompass Capital Advisors LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 10.0% in the second quarter, Holdings Channel reports. The firm owned 335,000 shares of the company’s stock after selling 37,034 shares during the period. GE Vernova comprises 3.0% of Encompass Capital Advisors LLC’s holdings, making the stock its 8th largest position. Encompass Capital Advisors LLC’s holdings in GE Vernova were worth $57,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GEV. Aspire Private Capital LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $40,000. GAMMA Investing LLC purchased a new stake in GE Vernova during the 2nd quarter valued at about $776,000. Sequoia Financial Advisors LLC acquired a new position in shares of GE Vernova in the second quarter valued at about $2,724,000. Parsons Capital Management Inc. RI purchased a new position in shares of GE Vernova in the second quarter worth about $275,000. Finally, Armstrong Henry H Associates Inc. acquired a new stake in shares of GE Vernova during the second quarter worth about $523,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Redburn Atlantic began coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target for the company. BMO Capital Markets assumed coverage on shares of GE Vernova in a report on Friday, September 13th. They set an “outperform” rating and a $245.00 target price for the company. Argus started coverage on shares of GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price target on the stock. HSBC started coverage on GE Vernova in a research note on Monday, August 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.66.

GE Vernova Stock Down 0.2 %

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

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts expect that GE Vernova Inc. will post 2.83 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.