Dimensional Fund Advisors LP Takes $176.78 Million Position in GE Vernova Inc. (NYSE:GEV)

Dimensional Fund Advisors LP purchased a new stake 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 and Exchange Commission (SEC). The fund purchased 1,030,545 shares of the company’s stock, valued at approximately $176,775,000. Dimensional Fund Advisors LP owned 0.38% of GE Vernova as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova during the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in shares of GE Vernova during the first quarter valued at $367,474,000. Assenagon Asset Management S.A. acquired a new position in shares of GE Vernova during the second quarter valued at $217,569,000. Massachusetts Financial Services Co. MA acquired a new stake in GE Vernova in the second quarter worth about $119,390,000. Finally, Waverton Investment Management Ltd acquired a new stake in GE Vernova in the second quarter worth about $113,497,000.

GE Vernova Stock Performance

NYSE GEV opened at $245.46 on Friday. The business’s 50-day moving average is $188.08. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $250.85.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts expect that GE Vernova Inc. will post 3.02 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GEV shares. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Morgan Stanley upped their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Royal Bank of Canada upped their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho upped their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Evercore ISI upped their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $219.42.

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.