Dorsey Wright & Associates Makes New $523,000 Investment in GE Vernova Inc. (NYSE:GEV)

Dorsey Wright & Associates bought a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,049 shares of the company’s stock, valued at approximately $523,000.

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

GE Vernova Stock Performance

NYSE:GEV opened at $249.84 on Friday. The company has a 50 day moving average price of $196.33. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $258.64.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate 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. Analysts predict that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on GEV. Redburn Atlantic began coverage on GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective for the company. Evercore ISI raised their price target on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Oppenheimer assumed coverage on shares of GE Vernova in a research report on Thursday. They set a “market perform” rating on the stock. Mizuho increased their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.48.

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.