Estabrook Capital Management Invests $1.67 Million in GE Vernova Inc. (NYSE:GEV)

Estabrook Capital Management purchased a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,717 shares of the company’s stock, valued at approximately $1,667,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the second quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova in the second quarter worth $25,000. Global Trust Asset Management LLC acquired a new position in GE Vernova in the second quarter worth $26,000. Finally, Gradient Investments LLC bought a new stake in GE Vernova during the second quarter valued at $27,000.

GE Vernova Stock Performance

GE Vernova stock opened at $245.46 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $250.85. The firm’s 50-day moving average is $188.08.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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. As a group, research analysts forecast that GE Vernova Inc. will post 3.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEV. HSBC started coverage on shares of GE Vernova in a report on Monday, August 12th. They issued a “buy” rating and a $215.00 price target for the company. Morgan Stanley lifted their target price on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Royal Bank of Canada upped their target price on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target on the stock. Finally, William Blair started coverage on GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.