Mutual of America Capital Management LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Mutual of America Capital Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 41,117 shares of the company’s stock, valued at approximately $7,052,000.

Several other hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in GE Vernova by 1.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after purchasing an additional 61 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of GE Vernova by 3.2% in the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after buying an additional 109 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new position in GE Vernova during the second quarter valued at about $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova during the second quarter worth about $25,000. Finally, Meeder Asset Management Inc. bought a new stake in GE Vernova in the second quarter worth about $25,000.

GE Vernova Price Performance

NYSE:GEV opened at $244.45 on Friday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $245.00. The company’s fifty day simple moving average is $186.78.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. Equities research analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GEV. Argus began 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 for the company. Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $300.00 in a report on Tuesday. Citigroup initiated coverage on GE Vernova in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 target price on the stock. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. boosted their price objective on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price 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.