Smith Anglin Financial LLC Purchases New Position in GE Vernova Inc. (NYSE:GEV)

Smith Anglin Financial LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 925 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Aspire Private Capital LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $40,000. Legal & General Group Plc acquired a new position in GE Vernova during the 2nd quarter valued at approximately $293,699,000. Central Pacific Bank Trust Division increased its stake in GE Vernova by 1,242.9% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after purchasing an additional 2,175 shares in the last quarter. Czech National Bank increased its stake in GE Vernova by 7.2% during the 3rd quarter. Czech National Bank now owns 55,980 shares of the company’s stock valued at $14,274,000 after purchasing an additional 3,751 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in GE Vernova during the 2nd quarter valued at approximately $776,000.

GE Vernova Price Performance

GE Vernova stock opened at $262.41 on Tuesday. The stock has a fifty day simple moving average of $205.35. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $266.42.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, analysts anticipate that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GEV shares. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. increased their price objective 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. Royal Bank of Canada increased their price target on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Evercore ISI increased their price target on shares of GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Barclays increased their price objective on shares of GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.98.

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.