Moors & Cabot Inc. Buys Shares of 6,078 GE Vernova Inc. (NYSE:GEV)

Moors & Cabot Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel.com reports. The fund purchased 6,078 shares of the company’s stock, valued at approximately $1,042,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in GE Vernova during the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in GE Vernova in the first quarter worth about $367,474,000. Assenagon Asset Management S.A. purchased a new stake in shares of GE Vernova during the second quarter worth about $217,569,000. Dimensional Fund Advisors LP acquired a new position in shares of GE Vernova during the second quarter valued at about $176,775,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of GE Vernova in the 2nd quarter valued at approximately $119,390,000.

GE Vernova Price Performance

GEV opened at $235.63 on Thursday. The firm has a fifty day moving average price of $185.43. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $241.52.

GE Vernova (NYSE:GEV) last announced its quarterly 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 business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, equities analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current year.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $300.00 in a research report on Tuesday. Barclays initiated coverage on shares of GE Vernova in a report on Monday. They set an “overweight” rating and a $250.00 price objective on the stock. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada raised their price objective on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.64.

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.