William B. Walkup & Associates Inc. Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

William B. Walkup & Associates Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 303 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newport Trust Company LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp bought a new position in GE Vernova in the second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova during the first quarter worth $367,474,000. Marshall Wace LLP acquired a new stake in GE Vernova in the 2nd quarter valued at about $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $293,699,000.

Wall Street Analyst Weigh In

GEV has been the subject of several recent research reports. Truist Financial began coverage on GE Vernova in a research note on Thursday. They issued a “buy” rating and a $300.00 price target for the company. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. HSBC began coverage on shares of GE Vernova in a report on Monday, August 12th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Oppenheimer assumed coverage on GE Vernova in a research note on Thursday. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.48.

GE Vernova Price Performance

NYSE:GEV opened at $249.86 on Monday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $258.64. The company has a 50 day moving average of $196.33.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. Research analysts expect 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.