Amalgamated Bank Takes Position in GE Vernova Inc. (NYSE:GEV)

Amalgamated Bank acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 55,199 shares of the company’s stock, valued at approximately $9,467,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova during the 2nd quarter valued at $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova during the first quarter valued at about $367,474,000. Assenagon Asset Management S.A. bought a new stake in GE Vernova in the second quarter worth about $217,569,000. Dimensional Fund Advisors LP bought a new stake in GE Vernova in the second quarter worth about $176,775,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in GE Vernova in the 2nd quarter valued at about $119,390,000.

GE Vernova Trading Down 0.6 %

Shares of GEV opened at $235.63 on Thursday. The company’s 50 day moving average is $185.43. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $241.52.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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. On average, equities research analysts predict that GE Vernova Inc. will post 3.02 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on GEV shares. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Evercore ISI lifted their price target on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Jefferies Financial Group began coverage on GE Vernova in a research report on Wednesday, September 4th. They set a “buy” rating and a $261.00 price objective for the company. Royal Bank of Canada lifted their target price on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $300.00 in a report on Tuesday. 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. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.64.

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.