Canada Pension Plan Investment Board Invests $35.37 Million in GE Vernova Inc. (NYSE:GEV)

Canada Pension Plan Investment Board purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 206,212 shares of the company’s stock, valued at approximately $35,367,000. Canada Pension Plan Investment Board owned approximately 0.08% of GE Vernova at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GEV. Deseret Mutual Benefit Administrators bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new stake in GE Vernova during the second quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in GE Vernova in the second quarter worth $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova in the 2nd quarter valued at $26,000. Finally, Gradient Investments LLC purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $27,000.

GE Vernova Stock Performance

GE Vernova stock opened at $245.46 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $250.85. The business has a fifty day moving average of $188.08.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Redburn Atlantic started coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Morgan Stanley upped their price target on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Mizuho raised 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, Jefferies Financial Group lifted their target price on GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.42.

GE Vernova Company 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.