Acadian Asset Management LLC Purchases New Position in GE Vernova Inc. (NYSE:GEV)

Acadian Asset Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,190 shares of the company’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of GE Vernova by 1.7% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after acquiring an additional 61 shares in the last quarter. Wedmont Private Capital increased its position in shares of GE Vernova by 3.2% in the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after buying an additional 109 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the second quarter valued at $25,000. Global Trust Asset Management LLC purchased a new stake in GE Vernova during the 2nd quarter worth approximately $26,000. Finally, Gradient Investments LLC purchased a new stake in shares of GE Vernova during the second quarter worth $27,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on GEV. HSBC initiated coverage on shares of GE Vernova in a research report on Monday, August 12th. They set a “buy” rating and a $215.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Citigroup initiated coverage on shares of GE Vernova in a report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price objective on the stock. Evercore ISI boosted their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.64.

GE Vernova Price Performance

GEV stock opened at $244.45 on Friday. The firm’s 50 day moving average is $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 posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. On average, analysts forecast that GE Vernova Inc. will post 3.02 earnings per share for the current 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.