Magnus Financial Group LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Magnus Financial Group LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 798 shares of the company’s stock, valued at approximately $203,000.

Several other large investors have also recently made changes to their positions in the business. Miracle Mile Advisors LLC increased its position in shares of GE Vernova by 1.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock valued at $706,000 after purchasing an additional 48 shares during the last quarter. Merrion Investment Management Co LLC increased its holdings in GE Vernova by 0.8% in the 3rd quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock worth $1,594,000 after acquiring an additional 50 shares during the last quarter. Parisi Gray Wealth Management increased its holdings in GE Vernova by 3.5% in the 3rd quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock worth $380,000 after acquiring an additional 51 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in GE Vernova by 1.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after acquiring an additional 61 shares during the last quarter. Finally, Stonehearth Capital Management LLC increased its holdings in GE Vernova by 6.1% in the 3rd quarter. Stonehearth Capital Management LLC now owns 1,474 shares of the company’s stock worth $376,000 after acquiring an additional 85 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Morgan Stanley lifted their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Royal Bank of Canada lifted their price objective on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $300.00 in a report on Tuesday, September 17th. Jefferies Financial Group lifted their target price on GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, The Goldman Sachs Group lifted their target price on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.78.

GE Vernova Stock Performance

NYSE:GEV opened at $274.77 on Thursday. The business has a 50 day moving average of $221.17 and a 200 day moving average of $183.61. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $276.19.

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 analysts’ consensus estimates 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. Equities analysts predict that GE Vernova Inc. will post 3.21 EPS for the current 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.