Legacy Financial Advisors Inc. Takes $334,000 Position in GE Vernova Inc. (NYSE:GEV)

Legacy Financial Advisors Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,949 shares of the company’s stock, valued at approximately $334,000.

Other hedge funds have also recently added to or reduced their stakes in the company. 11 Capital Partners LP acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $14,843,000. Clean Energy Transition LLP acquired a new position in GE Vernova during the second quarter worth approximately $129,508,000. Ensign Peak Advisors Inc purchased a new position in GE Vernova during the second quarter worth approximately $12,771,000. Forest Avenue Capital Management LP raised its stake in GE Vernova by 20.6% during the second quarter. Forest Avenue Capital Management LP now owns 143,100 shares of the company’s stock worth $24,543,000 after purchasing an additional 24,400 shares during the period. Finally, Summit Trail Advisors LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $563,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research analyst reports. Daiwa Capital Markets began coverage on GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective for the company. Citigroup started coverage on GE Vernova in a research note on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. Royal Bank of Canada lifted their price objective on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Barclays started coverage on GE Vernova in a report on Monday, September 16th. They set an “overweight” rating and a $250.00 target price for the company. Finally, Evercore ISI raised their price target on shares of GE Vernova from $202.00 to $240.00 and gave the company 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $219.42.

GE Vernova Stock Performance

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

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 business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts anticipate that GE Vernova Inc. will post 3.02 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.