Lone Pine Capital LLC Buys New Stake in GE Vernova Inc. (NYSE:GEV)

Lone Pine Capital LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,477,008 shares of the company’s stock, valued at approximately $253,322,000. GE Vernova makes up about 2.1% of Lone Pine Capital LLC’s investment portfolio, making the stock its 22nd largest holding. Lone Pine Capital LLC owned approximately 0.54% of GE Vernova at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Anderson Hoagland & Co. acquired a new stake in shares of GE Vernova in the first quarter valued at about $1,720,000. Maryland State Retirement & Pension System acquired a new stake in GE Vernova in the first quarter valued at approximately $2,892,000. Boit C F David purchased a new stake in shares of GE Vernova during the first quarter valued at approximately $149,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of GE Vernova in the first quarter valued at $30,000. Finally, Nwam LLC purchased a new position in shares of GE Vernova in the first quarter valued at $1,531,000.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Argus initiated coverage on shares of GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective on the stock. BMO Capital Markets started coverage on GE Vernova in a research note on Friday, September 13th. They set an “outperform” rating and a $245.00 target price for the company. William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Barclays initiated coverage on shares of GE Vernova in a research note on Monday, September 16th. They set an “overweight” rating and a $250.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.66.

GE Vernova Trading Up 1.6 %

Shares of NYSE GEV opened at $255.48 on Wednesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $257.50. The stock has a fifty day moving average of $191.02.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Sell-side analysts anticipate that GE Vernova Inc. will post 2.83 EPS for the current fiscal 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.