Public Sector Pension Investment Board Invests $1.80 Million in GE Vernova Inc. (NYSE:GEV)

Public Sector Pension Investment Board acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 10,496 shares of the company’s stock, valued at approximately $1,800,000.

A number of other hedge funds have also modified their holdings of the business. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $650,140,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in shares of GE Vernova during the 1st quarter worth approximately $367,474,000. D1 Capital Partners L.P. increased its stake in shares of GE Vernova by 94.5% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,367,462 shares of the company’s stock worth $234,533,000 after purchasing an additional 664,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $217,569,000.

GE Vernova Trading Up 2.1 %

NYSE:GEV opened at $254.99 on Tuesday. The company’s fifty day simple moving average is $198.10. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $258.64.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Sell-side analysts forecast that GE Vernova Inc. will post 2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price for the company. Guggenheim initiated coverage on shares of GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price for the company. HSBC initiated coverage on shares of GE Vernova in a research note on Monday, August 12th. They issued a “buy” rating and a $215.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Truist Financial started coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $227.48.

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.