AlTi Global Inc. Buys New Position in GE Vernova Inc. (NYSE:GEV)

AlTi Global Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,396 shares of the company’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of GE Vernova by 1.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after purchasing an additional 61 shares in the last quarter. Wedmont Private Capital grew its stake in shares of GE Vernova by 3.2% in the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after acquiring an additional 109 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova during the second quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova in the second quarter valued at $25,000. Finally, Meeder Asset Management Inc. purchased a new position in GE Vernova in the second quarter valued at $25,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GEV shares. The Goldman Sachs Group increased their price target on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group lifted their price target on shares of GE Vernova from $261.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Morgan Stanley increased their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Redburn Atlantic started coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 target price on the stock. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $227.48.

GE Vernova Stock Performance

Shares of GEV opened at $251.22 on Friday. The business’s 50 day simple moving average is $192.81. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $258.64.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Analysts anticipate that GE Vernova Inc. will post 2.83 earnings per share 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.