Gabelli Funds LLC Takes $16.80 Million Position in GE Vernova Inc. (NYSE:GEV)

Gabelli Funds LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 97,978 shares of the company’s stock, valued at approximately $16,804,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at $650,140,000. Bank of New York Mellon Corp bought a new stake in GE Vernova during the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova during the first quarter worth about $367,474,000. Assenagon Asset Management S.A. bought a new position in GE Vernova in the 2nd quarter worth about $217,569,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of GE Vernova in the 2nd quarter valued at about $176,775,000.

GE Vernova Trading Up 0.4 %

Shares of NYSE GEV opened at $245.46 on Monday. The business has a fifty day moving average price of $188.08. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $250.85.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. On average, analysts anticipate that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Evercore ISI boosted their price objective on GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. HSBC assumed coverage on shares of GE Vernova in a research note on Monday, August 12th. They issued a “buy” rating and a $215.00 price target for the company. Mizuho lifted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. William Blair started coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Bank of America upgraded GE Vernova from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $300.00 in a research report on Tuesday, September 17th. Three 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $219.42.

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.