AQR Capital Management LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

AQR Capital Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel reports. The fund bought 128,656 shares of the company’s stock, valued at approximately $22,066,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aspire Private Capital LLC bought a new stake in shares of GE Vernova during the second quarter worth approximately $40,000. GAMMA Investing LLC bought a new stake in GE Vernova in the 2nd quarter valued at $776,000. Sequoia Financial Advisors LLC acquired a new position in GE Vernova in the 2nd quarter valued at $2,724,000. Toronto Dominion Bank bought a new position in GE Vernova during the 2nd quarter worth $22,969,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of GE Vernova in the second quarter valued at about $275,000.

GE Vernova Stock Performance

NYSE GEV opened at $254.99 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $258.64. The firm’s fifty day moving average price is $198.10.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, analysts forecast that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GEV shares. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Truist Financial began coverage on GE Vernova in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Morgan Stanley upped their target price on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Royal Bank of Canada raised their price target on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Finally, Redburn Atlantic started coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.48.

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.