Teachers Retirement System of The State of Kentucky Makes New $10.03 Million Investment in GE Vernova Inc. (NYSE:GEV)

Teachers Retirement System of The State of Kentucky purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 58,464 shares of the company’s stock, valued at approximately $10,027,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after purchasing an additional 61 shares during the period. Wedmont Private Capital boosted its stake in shares of GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after acquiring an additional 109 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $25,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $25,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $256.53 on Wednesday. The business’s 50 day moving average price is $199.81. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $258.64.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts expect that GE Vernova Inc. will post 2.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Argus assumed coverage on shares of GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Mizuho increased their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on shares of GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley raised their price target on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $227.48.

About GE Vernova

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.