Ensign Peak Advisors Inc Takes Position in GE Vernova Inc. (NYSE:GEV)

Ensign Peak Advisors Inc bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 74,464 shares of the company’s stock, valued at approximately $12,771,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new position in shares of GE Vernova during the 1st quarter worth approximately $367,474,000. Assenagon Asset Management S.A. acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $217,569,000. Finally, Dimensional Fund Advisors LP bought a new stake in GE Vernova in the 2nd quarter valued at $176,775,000.

GE Vernova Stock Up 2.5 %

Shares of NYSE:GEV opened at $251.55 on Tuesday. The firm has a 50 day moving average price of $189.57. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $254.87.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, research analysts expect that GE Vernova Inc. will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HSBC began coverage on shares of GE Vernova in a report on Monday, August 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Citigroup assumed coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective for the company. Daiwa America raised GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. BMO Capital Markets began coverage on GE Vernova in a report on Friday, September 13th. They set an “outperform” rating and a $245.00 price target for the company. Finally, Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $300.00 in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $219.42.

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.