Granite Investment Partners LLC Raises Stake in GE Vernova Inc. (NYSE:GEV)

Granite Investment Partners LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 620.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 53,649 shares of the company’s stock after buying an additional 46,199 shares during the period. Granite Investment Partners LLC’s holdings in GE Vernova were worth $9,201,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GEV. Anderson Hoagland & Co. purchased a new stake in GE Vernova during the 1st quarter valued at approximately $1,720,000. Maryland State Retirement & Pension System acquired a new stake in shares of GE Vernova during the first quarter worth $2,892,000. Valeo Financial Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter worth $673,000. Boit C F David purchased a new position in GE Vernova in the 1st quarter valued at $149,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in GE Vernova in the 1st quarter valued at $30,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GEV. Mizuho raised 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. Royal Bank of Canada lifted their price objective on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group began coverage on GE Vernova in a research note on Wednesday, September 4th. They set a “buy” rating and a $261.00 target price for the company. Citigroup began coverage on GE Vernova in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price target on the stock. Finally, The Goldman Sachs Group raised 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. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.64.

GE Vernova Trading Up 3.7 %

GEV stock opened at $244.45 on Friday. The firm has a 50 day simple moving average of $186.78. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $245.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

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.