Price T Rowe Associates Inc. MD Makes New $367.47 Million Investment in GE Vernova Inc. (NYSE:GEV)

Price T Rowe Associates Inc. MD bought a new stake in GE Vernova Inc. (NYSE:GEV) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,687,194 shares of the company’s stock, valued at approximately $367,474,000. Price T Rowe Associates Inc. MD owned 0.98% of GE Vernova as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System bought a new stake in GE Vernova in the 1st quarter worth about $2,892,000. Anderson Hoagland & Co. purchased a new stake in GE Vernova in the first quarter worth about $1,720,000. Nwam LLC bought a new position in shares of GE Vernova in the first quarter worth about $1,531,000. LRI Investments LLC bought a new position in shares of GE Vernova in the first quarter worth about $63,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of GE Vernova during the 1st quarter valued at about $30,000.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday. Daiwa Capital Markets started coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 price objective for the company. Raymond James started coverage on shares of GE Vernova in a research note on Wednesday, April 17th. They set an “outperform” rating and a $160.00 target price for the company. Evercore ISI lifted their price objective on shares of GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America assumed coverage on shares of GE Vernova in a research report on Wednesday, April 24th. They issued a “neutral” rating and a $150.00 price objective for the company. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.25.

GE Vernova Stock Up 8.2 %

NYSE GEV traded up $13.11 during trading hours on Friday, reaching $173.11. The stock had a trading volume of 3,871,920 shares, compared to its average volume of 2,759,542. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $185.50. The company’s fifty day moving average is $171.71.

GE Vernova (NYSE:GEV) last issued its earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, research analysts expect that GE Vernova Inc. will post 3.53 earnings per share for the current 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.