Marshall Wace LLP Purchases New Position in GE Vernova Inc. (NYSE:GEV)

Marshall Wace LLP acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,330,887 shares of the company’s stock, valued at approximately $399,770,000. GE Vernova makes up about 0.5% of Marshall Wace LLP’s portfolio, making the stock its 18th biggest position. Marshall Wace LLP owned 0.85% of GE Vernova at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GEV. Newport Trust Company LLC purchased a new position in shares of GE Vernova in the second quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova in the second quarter worth $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in shares of GE Vernova in the first quarter worth $367,474,000. Assenagon Asset Management S.A. purchased a new position in shares of GE Vernova in the second quarter worth $217,569,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of GE Vernova in the second quarter worth $176,775,000.

GE Vernova Stock Performance

NYSE GEV opened at $251.55 on Tuesday. The business has a 50 day simple moving average of $189.57. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $254.87.

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

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Mizuho boosted their price target on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their price target on GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Jefferies Financial Group lifted their price objective on GE Vernova from $261.00 to $293.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI lifted 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. Finally, Barclays began coverage on GE Vernova in a report on Monday, September 16th. They issued an “overweight” rating and a $250.00 price objective for the company. 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 company. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price 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.