Gateway Advisory LLC Buys New Stake in GE Vernova Inc. (NYSE:GEV)

Gateway Advisory LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,838 shares of the company’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova in the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova in the first quarter valued at about $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of GE Vernova during the second quarter worth $217,569,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Argus assumed coverage on shares of GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Barclays assumed coverage on GE Vernova in a research note on Monday, September 16th. They issued an “overweight” rating and a $250.00 price objective for the company. Citigroup initiated coverage on GE Vernova in a research note on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.66.

GE Vernova Stock Performance

GEV opened at $251.55 on Tuesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $254.87. The business has a 50 day moving average of $189.57.

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, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities research analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current year.

GE Vernova 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.