Forest Avenue Capital Management LP Has $24.54 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Forest Avenue Capital Management LP grew its holdings in GE Vernova Inc. (NYSE:GEV) by 20.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,100 shares of the company’s stock after purchasing an additional 24,400 shares during the quarter. GE Vernova makes up approximately 3.4% of Forest Avenue Capital Management LP’s holdings, making the stock its 16th biggest holding. Forest Avenue Capital Management LP owned about 0.05% of GE Vernova worth $24,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Summit Trail Advisors LLC acquired a new stake in shares of GE Vernova during the second quarter worth $563,000. Thrivent Financial for Lutherans acquired a new stake in GE Vernova in the second quarter worth $2,339,000. Thames Capital Management LLC acquired a new stake in GE Vernova in the second quarter worth $10,326,000. Sei Investments Co. bought a new position in shares of GE Vernova during the second quarter worth $14,126,000. Finally, Pacer Advisors Inc. acquired a new position in shares of GE Vernova in the 2nd quarter valued at $3,317,000.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 target price on the stock. Argus started coverage on GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 target price for the company. Mizuho boosted their price target on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. HSBC began coverage on GE Vernova in a research report on Monday, August 12th. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Morgan Stanley raised their price target on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.42.

GE Vernova Trading Up 0.4 %

GE Vernova stock opened at $245.46 on Friday. The firm has a 50-day moving average of $188.08. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $250.85.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities analysts forecast that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal 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.