60,461 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,461 shares of the company’s stock, valued at approximately $10,370,000.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. Everhart Financial Group Inc. bought a new position in shares of GE Vernova in the 2nd quarter worth $283,000. Premier Path Wealth Partners LLC acquired a new position in GE Vernova during the second quarter worth $253,000. Secure Asset Management LLC bought a new position in shares of GE Vernova in the second quarter valued at $210,000. Sentry LLC acquired a new position in shares of GE Vernova during the second quarter valued at about $363,000. Finally, New York State Teachers Retirement System bought a new stake in shares of GE Vernova during the second quarter worth about $42,236,000.

Analyst Ratings Changes

Several brokerages recently weighed in on GEV. Redburn Atlantic started coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target on the stock. HSBC assumed coverage on GE Vernova in a report on Monday, August 12th. They issued a “buy” rating and a $215.00 target price on the stock. Citigroup began coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $195.00 to $216.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.83.

GE Vernova Stock Down 1.5 %

GE Vernova stock opened at $183.29 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $190.80. The company’s 50 day moving average is $174.65.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, equities analysts expect that GE Vernova Inc. will post 3.43 EPS for the current fiscal 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.