Kentucky Retirement Systems Makes New $3.54 Million Investment in GE Vernova Inc. (NYSE:GEV)

Kentucky Retirement Systems acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,654 shares of the company’s stock, valued at approximately $3,542,000.

Other large investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova in the second quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the second quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova in the second quarter valued at $25,000. Global Trust Asset Management LLC purchased a new position in shares of GE Vernova in the second quarter valued at $26,000. Finally, Gradient Investments LLC purchased a new position in shares of GE Vernova in the second quarter valued at $27,000.

GE Vernova Trading Up 3.7 %

NYSE GEV opened at $244.45 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $245.00. The company has a 50-day moving average price of $186.78.

GE Vernova (NYSE:GEV) last announced its 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 company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Sell-side analysts expect that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GEV. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Jefferies Financial Group began coverage on GE Vernova in a research report on Wednesday, September 4th. They issued a “buy” rating and a $261.00 price target for the company. The Goldman Sachs Group raised their price target on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Argus began coverage on GE Vernova in a research report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price target for the company. Finally, Royal Bank of Canada raised their price target on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.