ProShare Advisors LLC Invests $6.62 Million in GE Vernova Inc. (NYSE:GEV)

ProShare Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,572 shares of the company’s stock, valued at approximately $6,615,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Profund Advisors LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $758,000. Kowal Investment Group LLC bought a new stake in GE Vernova in the 2nd quarter worth $321,000. Hancock Whitney Corp purchased a new position in shares of GE Vernova in the second quarter valued at about $391,000. Legacy Financial Advisors Inc. bought a new position in shares of GE Vernova during the second quarter valued at about $334,000. Finally, 11 Capital Partners LP bought a new position in shares of GE Vernova during the second quarter valued at about $14,843,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays initiated coverage on GE Vernova in a report on Monday, September 16th. They set an “overweight” rating and a $250.00 price target on the stock. The Goldman Sachs Group upped their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. Hsbc Global Res upgraded shares of GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Royal Bank of Canada upped their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Finally, Morgan Stanley lifted their target price on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $223.66.

GE Vernova Stock Down 0.2 %

Shares of NYSE:GEV opened at $255.05 on Thursday. The firm’s fifty day moving average is $191.02. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $257.75.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, sell-side analysts predict that GE Vernova Inc. will post 2.83 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.