Hsbc Holdings PLC Invests $82.79 Million in GE Vernova Inc. (NYSE:GEV)

Hsbc Holdings PLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 486,060 shares of the company’s stock, valued at approximately $82,788,000. Hsbc Holdings PLC owned approximately 0.18% of GE Vernova as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anderson Hoagland & Co. purchased a new stake in shares of GE Vernova in the 1st quarter worth approximately $1,720,000. Maryland State Retirement & Pension System purchased a new stake in shares of GE Vernova in the first quarter worth $2,892,000. Valeo Financial Advisors LLC bought a new position in shares of GE Vernova during the first quarter valued at $673,000. Boit C F David purchased a new position in shares of GE Vernova in the 1st quarter worth about $149,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of GE Vernova in the 1st quarter worth about $30,000.

GE Vernova Trading Up 3.7 %

NYSE GEV opened at $244.45 on Friday. The stock’s fifty day moving average is $186.78. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $245.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GEV. Argus started coverage on shares of GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 price target on the stock. Barclays assumed coverage on GE Vernova in a research note on Monday. They set an “overweight” rating and a $250.00 target price on the stock. Redburn Atlantic assumed coverage on GE Vernova in a research note on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target for the company. Royal Bank of Canada increased their price objective on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of GE Vernova in a report on Wednesday, September 4th. They set a “buy” rating and a $261.00 price objective for the company. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $217.64.

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.