Apella Capital LLC Takes $216,000 Position in GE Vernova Inc. (NYSE:GEV)

Apella Capital LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 855 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators bought a new position in shares of GE Vernova in the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova during the 2nd quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $26,000. Finally, Timber Creek Capital Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth $27,000.

GE Vernova Stock Performance

GE Vernova stock traded up $10.91 during trading on Friday, reaching $265.59. 3,159,216 shares of the company were exchanged, compared to its average volume of 3,736,874. The firm’s 50 day moving average price is $205.35. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $266.42.

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 firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, analysts predict that GE Vernova Inc. will post 2.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEV. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. The Goldman Sachs Group raised their target price on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Evercore ISI increased their price objective on shares of GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday. BMO Capital Markets assumed coverage on shares of GE Vernova in a research report on Friday, September 13th. They set an “outperform” rating and a $245.00 price objective on the stock. Finally, Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.98.

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.