Federated Hermes Inc. Invests $28.42 Million in GE Vernova Inc. (NYSE:GEV)

Federated Hermes Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 165,715 shares of the company’s stock, valued at approximately $28,422,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in GE Vernova in the first quarter valued at approximately $367,474,000. Assenagon Asset Management S.A. bought a new stake in GE Vernova during the second quarter valued at approximately $217,569,000. Waverton Investment Management Ltd purchased a new position in GE Vernova in the 2nd quarter worth approximately $113,497,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of GE Vernova in the 2nd quarter worth $104,273,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GEV shares. William Blair initiated coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Mizuho increased their price objective on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets began coverage on GE Vernova in a research report on Friday. They issued an “outperform” rating and a $245.00 target price for the company. Jefferies Financial Group initiated coverage on shares of GE Vernova in a research report on Wednesday, September 4th. They set a “buy” rating and a $261.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of GE Vernova in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.03.

GE Vernova Stock Up 4.8 %

Shares of GE Vernova stock opened at $225.59 on Friday. The company’s 50 day simple moving average is $181.89. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $228.68.

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

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.