Birmingham Capital Management Co. Inc. AL Invests $449,000 in GE Vernova Inc. (NYSE:GEV)

Birmingham Capital Management Co. Inc. AL bought a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,617 shares of the company’s stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Aspire Private Capital LLC purchased a new position in GE Vernova in the 2nd quarter worth about $40,000. Legal & General Group Plc purchased a new position in shares of GE Vernova in the second quarter worth approximately $293,699,000. GAMMA Investing LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $776,000. Sequoia Financial Advisors LLC acquired a new position in GE Vernova in the 2nd quarter worth approximately $2,724,000. Finally, Toronto Dominion Bank acquired a new position in GE Vernova in the 2nd quarter worth approximately $22,969,000.

GE Vernova Stock Up 0.6 %

GEV opened at $256.53 on Wednesday. The business’s 50-day moving average is $199.81. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $258.64.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (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 the consensus estimate of $8.42 billion. On average, equities research analysts forecast that GE Vernova Inc. will post 2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America upgraded GE Vernova from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $300.00 in a research report on Tuesday, September 17th. Argus initiated coverage on GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price on the stock. Royal Bank of Canada raised 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. Finally, Evercore ISI boosted their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $227.48.

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.