Miracle Mile Advisors LLC Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Miracle Mile Advisors LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,768 shares of the company’s stock after acquiring an additional 48 shares during the period. Miracle Mile Advisors LLC’s holdings in GE Vernova were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova during the 2nd quarter valued at $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in GE Vernova during the 1st quarter valued at $367,474,000. Marshall Wace LLP purchased a new position in GE Vernova during the second quarter worth $399,770,000. Finally, Legal & General Group Plc acquired a new position in shares of GE Vernova in the second quarter worth $293,699,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. Oppenheimer started coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Redburn Atlantic started coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective on the stock. Argus assumed coverage on shares of GE Vernova in a research report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Evercore ISI boosted their price target on GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Seven investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.98.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $264.27 on Wednesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $266.56. The business’s fifty day simple moving average is $207.15.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, sell-side analysts expect that GE Vernova Inc. will post 2.83 earnings per share for the current year.

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.