Bridges Investment Management Inc. Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Bridges Investment Management Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,682 shares of the company’s stock, valued at approximately $631,000.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on GEV shares. JPMorgan Chase & Co. increased their target price on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Bank of America upgraded GE Vernova from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $300.00 in a report on Tuesday, September 17th. William Blair started coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. 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 report on Friday, July 26th. Finally, Daiwa America upgraded GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $219.42.

GE Vernova Trading Up 0.4 %

Shares of GEV opened at $245.46 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $250.85. The stock’s 50-day moving average is $188.08.

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

GE Vernova Company 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.