AQR Capital Management LLC Buys New Holdings in GE Vernova Inc. (NYSE:GEV)

AQR Capital Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 128,656 shares of the company’s stock, valued at approximately $22,066,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $27,000.

GE Vernova Stock Performance

Shares of GEV opened at $254.99 on Tuesday. The stock’s fifty day moving average price is $198.10. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $258.64.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that GE Vernova Inc. will post 2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEV shares. Mizuho upped their price target on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets initiated coverage on shares of GE Vernova in a research report on Friday, September 13th. They set an “outperform” rating and a $245.00 target price for the company. Bank of America upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $300.00 in a research report on Tuesday, September 17th. William Blair initiated coverage on shares of GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Daiwa Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price for the company. Four investment 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.48.

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.