Sumitomo Mitsui Trust Holdings Inc. Buys Shares of 607,972 GE Vernova Inc. (NYSE:GEV)

Sumitomo Mitsui Trust Holdings Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 607,972 shares of the company’s stock, valued at approximately $104,273,000. Sumitomo Mitsui Trust Holdings Inc. owned about 0.22% of GE Vernova at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova in the 1st quarter worth about $367,474,000. Assenagon Asset Management S.A. purchased a new position in shares of GE Vernova during the second quarter valued at approximately $217,569,000. Steadfast Capital Management LP bought a new position in GE Vernova during the first quarter valued at approximately $80,235,000. Kinetic Partners Management LP bought a new position in GE Vernova during the first quarter valued at approximately $20,854,000. Finally, ARS Investment Partners LLC purchased a new stake in GE Vernova in the second quarter worth approximately $23,510,000.

Analyst Ratings Changes

Several research firms have recently weighed in on GEV. Argus started coverage on GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 price target on the stock. Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group upped their price target on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Finally, Citigroup began coverage on shares of GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.83.

GE Vernova Stock Down 2.5 %

Shares of GEV stock opened at $184.06 on Monday. The business has a fifty day simple moving average of $173.37. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $190.80.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Analysts expect that GE Vernova Inc. will post 3.43 EPS for the current year.

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.