Sunbelt Securities Inc. Acquires New Shares in GE Vernova Inc. (NYSE:GEV)

Sunbelt Securities Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 267 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new position in shares of GE Vernova in the 2nd quarter valued at $52,000. Front Row Advisors LLC acquired a new position in GE Vernova in the 2nd quarter worth about $109,000. NewEdge Advisors LLC acquired a new position in GE Vernova in the 2nd quarter worth about $1,851,000. Northwestern Mutual Wealth Management Co. bought a new position in GE Vernova in the second quarter valued at about $2,511,000. Finally, Cape Cod Five Cents Savings Bank acquired a new stake in shares of GE Vernova during the second quarter valued at about $214,000.

GE Vernova Stock Up 4.3 %

NYSE:GEV opened at $265.59 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $266.42. The business has a fifty day moving average of $205.35.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, research analysts anticipate that GE Vernova Inc. will post 2.83 EPS for the current year.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Evercore ISI upped their price objective on GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $300.00 in a report on Tuesday, September 17th. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Finally, Argus initiated coverage on GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $234.98.

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.