Sagefield Capital LP Purchases 106,336 Shares of GE Vernova Inc. (NYSE:GEV)

Sagefield Capital LP increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 656.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,536 shares of the company’s stock after buying an additional 106,336 shares during the quarter. GE Vernova accounts for 2.2% of Sagefield Capital LP’s investment portfolio, making the stock its 12th largest holding. Sagefield Capital LP’s holdings in GE Vernova were worth $21,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Newport Trust Company LLC bought a new stake in GE Vernova during the second quarter worth $650,140,000. Bank of New York Mellon Corp bought a new stake in GE Vernova during the second quarter worth $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova during the first quarter worth $367,474,000. D1 Capital Partners L.P. grew its holdings in GE Vernova by 94.5% during the second quarter. D1 Capital Partners L.P. now owns 1,367,462 shares of the company’s stock worth $234,533,000 after buying an additional 664,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in GE Vernova during the second quarter worth $217,569,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $300.00 in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their price objective on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Daiwa America raised GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Finally, Redburn Atlantic assumed coverage on GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.42.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $251.55 on Tuesday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $254.87. The company’s fifty day moving average price is $189.57.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 analysts’ expectations of $8.42 billion. As a group, research analysts expect that GE Vernova Inc. will post 3.02 EPS for the current fiscal 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.