The Manufacturers Life Insurance Company Makes New $38.03 Million Investment in GE Vernova Inc. (NYSE:GEV)

The Manufacturers Life Insurance Company acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 221,762 shares of the company’s stock, valued at approximately $38,034,000. The Manufacturers Life Insurance Company owned 0.08% of GE Vernova at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in GE Vernova during the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova during the second quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova during the second quarter valued at $25,000. Global Trust Asset Management LLC bought a new position in shares of GE Vernova during the second quarter valued at $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $27,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Barclays began coverage on shares of GE Vernova in a research report on Monday, September 16th. They issued an “overweight” rating and a $250.00 price target on the stock. Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Guggenheim began coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target for the company. Citigroup started coverage on GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price objective for the company. Finally, BMO Capital Markets started coverage on GE Vernova in a report on Friday, September 13th. They set an “outperform” rating and a $245.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $227.48.

GE Vernova Stock Performance

GE Vernova stock opened at $249.86 on Monday. The business’s fifty day moving average is $196.33. GE Vernova Inc. has a one year low of $115.00 and a one year high of $258.64.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share 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 the consensus estimate of $8.42 billion. Equities research analysts expect that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

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.