Park Edge Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Park Edge Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,900 shares of the company’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Eagle Bay Advisors LLC purchased a new position in GE Vernova during the second quarter valued at $66,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $321,000. Atomi Financial Group Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at $245,000. Cambridge Investment Research Advisors Inc. purchased a new position in GE Vernova during the second quarter valued at $6,783,000. Finally, Skylands Capital LLC purchased a new stake in GE Vernova in the 2nd quarter worth approximately $472,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Daiwa Capital Markets began coverage on shares of GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 target price for the company. Argus started coverage on GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective for the company. Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $180.00 target price on shares of GE Vernova in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.83.

GE Vernova Price Performance

Shares of GEV stock traded up $3.42 on Tuesday, hitting $185.55. 1,449,758 shares of the stock were exchanged, compared to its average volume of 3,890,471. The business has a 50-day moving average of $174.92. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $190.80.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. Equities analysts expect that GE Vernova Inc. will post 3.43 EPS for the current year.

About GE Vernova

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.