Resonant Capital Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Resonant Capital Advisors LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 941 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors have also added to or reduced their stakes in GEV. Global Retirement Partners LLC boosted its position in shares of GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after purchasing an additional 40 shares in the last quarter. First Bancorp Inc ME boosted its holdings in GE Vernova by 3.1% in the third quarter. First Bancorp Inc ME now owns 1,450 shares of the company’s stock worth $370,000 after acquiring an additional 44 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of GE Vernova by 1.8% in the third quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock worth $706,000 after acquiring an additional 48 shares during the last quarter. Merrion Investment Management Co LLC increased its holdings in shares of GE Vernova by 0.8% during the third quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock valued at $1,594,000 after acquiring an additional 50 shares in the last quarter. Finally, Parisi Gray Wealth Management raised its position in shares of 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 purchasing an additional 51 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Guggenheim started coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target for the company. Redburn Atlantic started coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective for the company. Morgan Stanley lifted their target price on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.83.

GE Vernova Price Performance

GE Vernova stock opened at $276.41 on Tuesday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $281.37. The firm has a 50 day moving average of $226.93 and a 200 day moving average of $186.25.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (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 analysts’ expectations of $8.42 billion. Sell-side analysts predict that GE Vernova Inc. will post 3.21 earnings per share 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.