DekaBank Deutsche Girozentrale Buys New Shares in GE Vernova Inc. (NYSE:GEV)

DekaBank Deutsche Girozentrale purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel reports. The firm purchased 131,668 shares of the company’s stock, valued at approximately $23,144,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in GE Vernova during the second quarter worth about $25,000. Parthenon LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $934,000. Nicholas Investment Partners LP acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $3,743,000. Bell Investment Advisors Inc bought a new stake in shares of GE Vernova during the second quarter valued at approximately $40,000. Finally, BOKF NA acquired a new position in shares of GE Vernova in the second quarter valued at $2,125,000.

GE Vernova Price Performance

GE Vernova stock opened at $225.59 on Friday. The firm has a 50-day simple moving average of $181.89. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $228.68.

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 analyst estimates of $8.42 billion. As a group, sell-side analysts predict that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target on the stock. Morgan Stanley upped their target price on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday. Daiwa Capital Markets started coverage on shares of GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 price target for the company. HSBC initiated coverage on GE Vernova in a report on Monday, August 12th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.03.

GE Vernova 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.