Bank of Montreal Can Takes Position in GE Vernova Inc. (NYSE:GEV)

Bank of Montreal Can purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 403,173 shares of the company’s stock, valued at approximately $73,156,000. Bank of Montreal Can owned approximately 0.15% of GE Vernova as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova in the 2nd quarter valued at $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova in the first quarter valued at $367,474,000. D1 Capital Partners L.P. raised its stake in GE Vernova by 94.5% during the second quarter. D1 Capital Partners L.P. now owns 1,367,462 shares of the company’s stock worth $234,533,000 after acquiring an additional 664,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of GE Vernova during the second quarter valued at $217,569,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Mizuho boosted their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Evercore ISI lifted their target price on shares of GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley increased their price target on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $223.66.

GE Vernova Trading Up 1.6 %

Shares of NYSE GEV opened at $255.48 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $257.50. The firm has a 50 day simple moving average of $191.02.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Research analysts predict that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

GE Vernova Company 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.