EP Wealth Advisors LLC Acquires New Position in GE Vernova Inc. (NYSE:GEV)

EP Wealth Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,682 shares of the company’s stock, valued at approximately $803,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Newport Trust Company LLC acquired a new stake in shares of GE Vernova in the second quarter valued at $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in shares of GE Vernova in the 1st quarter valued at about $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova during the second quarter worth about $399,770,000. Finally, Legal & General Group Plc purchased a new stake in shares of GE Vernova during the second quarter worth approximately $293,699,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GEV. 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 price target for the company. Guggenheim assumed coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective for the company. BMO Capital Markets began coverage on GE Vernova in a research note on Friday, September 13th. They issued an “outperform” rating and a $245.00 price target on the stock. Barclays upped their price objective on GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $300.00 in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.98.

GE Vernova Stock Down 1.6 %

GEV opened at $252.43 on Thursday. The firm’s 50 day moving average is $201.61. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $258.64.

GE Vernova (NYSE:GEV) last issued its quarterly 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 company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, equities research analysts expect that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal 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.