King Luther Capital Management Corp Takes Position in GE Vernova Inc. (NYSE:GEV)

King Luther Capital Management Corp acquired a new position 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 firm acquired 4,515 shares of the company’s stock, valued at approximately $774,000.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. Bank of New York Mellon Corp bought a new position in shares of GE Vernova in the 2nd quarter worth about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake 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 second quarter worth about $217,569,000. Dimensional Fund Advisors LP acquired a new position in GE Vernova in the second quarter valued at approximately $176,775,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in GE Vernova in the second quarter valued at approximately $119,390,000.

GE Vernova Trading Up 0.4 %

GE Vernova stock opened at $245.46 on Monday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $250.85. The business has a 50 day simple moving average of $188.08.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEV shares. Redburn Atlantic started coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target on the stock. Citigroup began coverage on GE Vernova in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 target price on the stock. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a research report on Friday. Finally, Argus assumed coverage on shares of GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 target price for the company. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $219.42.

GE Vernova 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.