Front Street Capital Management Inc. Takes Position in GE Vernova Inc. (NYSE:GEV)

Front Street Capital Management Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 65,507 shares of the company’s stock, valued at approximately $11,235,000. GE Vernova accounts for approximately 2.2% of Front Street Capital Management Inc.’s holdings, making the stock its 14th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova during the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in GE Vernova in the 2nd quarter worth about $25,000. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $26,000. Finally, Gradient Investments LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $27,000.

GE Vernova Stock Up 2.5 %

GE Vernova stock opened at $251.55 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $254.87. The stock’s 50 day moving average is $189.57.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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 company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, research analysts forecast that GE Vernova Inc. will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $300.00 in a research report on Tuesday, September 17th. Evercore ISI boosted their target price on GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. BMO Capital Markets started coverage on GE Vernova in a research report on Friday, September 13th. They set an “outperform” rating and a $245.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Morgan Stanley boosted their target price on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $219.42.

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.