Argent Trust Co Purchases New Stake in GE Vernova Inc. (NYSE:GEV)

Argent Trust Co purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,754 shares of the company’s stock, valued at approximately $472,000.

A number of other hedge funds have also recently modified their holdings of GEV. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova during the second quarter worth about $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in GE Vernova in the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in GE Vernova in the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $27,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $244.45 on Friday. The business has a 50 day moving average price of $186.78. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $245.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, research analysts anticipate that GE Vernova Inc. will post 3.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on GEV. Mizuho upped their target price on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price for the company. Citigroup assumed coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target on the stock. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $300.00 in a research note on Tuesday. Finally, HSBC assumed coverage on GE Vernova in a research report on Monday, August 12th. They set a “buy” rating and a $215.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.64.

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.