Granite Bay Wealth Management LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Granite Bay Wealth Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,998 shares of the company’s stock, valued at approximately $1,270,000.

Several other institutional investors have also made changes to their positions in the company. Truist Financial Corp bought a new position in shares of GE Vernova in the second quarter worth about $7,832,000. Pathway Financial Advisers LLC acquired a new position in shares of GE Vernova during the second quarter worth approximately $29,000. Point72 Asset Management L.P. grew its stake in shares of GE Vernova by 4,735.0% in the second quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock worth $124,388,000 after acquiring an additional 710,250 shares during the last quarter. EP Wealth Advisors LLC bought a new position in GE Vernova during the second quarter worth $803,000. Finally, Kimelman & Baird LLC acquired a new position in GE Vernova during the 2nd quarter valued at $448,000.

GE Vernova Price Performance

GEV opened at $254.99 on Tuesday. The stock’s fifty day simple moving average is $198.10. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $258.64.

GE Vernova (NYSE:GEV) last issued its earnings results 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 the consensus estimate of $8.42 billion. Equities analysts expect that GE Vernova Inc. will post 2.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Guggenheim assumed coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. HSBC initiated coverage on GE Vernova in a research note on Monday, August 12th. They set a “buy” rating and a $215.00 price objective for the company. Truist Financial assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, Mizuho upped their target price 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. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.48.

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.