Skandinaviska Enskilda Banken AB publ Purchases Shares of 55,400 GE Vernova Inc. (NYSE:GEV)

Skandinaviska Enskilda Banken AB publ purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 55,400 shares of the company’s stock, valued at approximately $9,502,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Newport Trust Company LLC acquired a new position in shares of GE Vernova in the second quarter valued at about $650,140,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova in the second quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in shares of GE Vernova in the first quarter valued at about $367,474,000. Assenagon Asset Management S.A. acquired a new position in shares of GE Vernova in the second quarter valued at about $217,569,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of GE Vernova in the second quarter valued at about $176,775,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their target price on 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 raised their target price on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Mizuho raised their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets assumed coverage on GE Vernova in a report on Friday, September 13th. They set an “outperform” rating and a $245.00 target price on the stock. Finally, HSBC assumed coverage on GE Vernova in a report on Monday, August 12th. They set a “buy” rating and a $215.00 target price on the stock. Three 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $219.42.

GE Vernova Trading Up 0.4 %

NYSE GEV opened at $245.46 on Friday. The firm has a 50 day moving average price of $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 announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts predict that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal 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.