Farther Finance Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Farther Finance Advisors 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 & Exchange Commission. The fund bought 3,496 shares of the company’s stock, valued at approximately $586,000.

Several other large investors have also made changes to their positions in GEV. Bank of New York Mellon Corp bought a new stake in GE Vernova during the 2nd quarter worth about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $367,474,000. Assenagon Asset Management S.A. bought a new stake in shares of GE Vernova during the second quarter worth approximately $217,569,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in GE Vernova in the second quarter valued at approximately $104,273,000. Finally, Steadfast Capital Management LP bought a new position in GE Vernova in the first quarter valued at approximately $80,235,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $220.00 target price on shares of GE Vernova in a research report on Monday, August 26th. Daiwa Capital Markets assumed coverage on GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Redburn Atlantic began coverage on GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. William Blair initiated coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Argus began coverage on shares of GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $189.83.

GE Vernova Stock Performance

GEV opened at $201.00 on Tuesday. The firm has a 50-day moving average price of $176.38. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $201.37.

GE Vernova (NYSE:GEV) last announced 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 firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, analysts expect that GE Vernova Inc. will post 3.1 EPS for the current fiscal 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.