Highland Capital Management LLC Makes New $5.88 Million Investment in GE Vernova Inc. (NYSE:GEV)

Highland Capital Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 34,306 shares of the company’s stock, valued at approximately $5,884,000.

A number of other institutional investors have also made changes to their positions in GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after buying an additional 61 shares during the period. Wedmont Private Capital lifted its stake in shares of GE Vernova by 3.2% in the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after acquiring an additional 109 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova in the second quarter worth about $26,000. Gradient Investments LLC purchased a new position in GE Vernova in the second quarter valued at about $27,000. Finally, Timber Creek Capital Management LLC acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $27,000.

GE Vernova Stock Down 1.5 %

Shares of NYSE GEV traded down $2.71 during mid-day trading on Friday, hitting $183.29. 4,872,683 shares of the company traded hands, compared to its average volume of 3,929,203. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $190.80. The business’s 50 day moving average is $174.65.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS 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 analysts’ expectations of $8.42 billion. As a group, sell-side analysts expect that GE Vernova Inc. will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $180.00 target price on shares of GE Vernova in a research note on Monday, July 22nd. Daiwa Capital Markets started coverage on shares of GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective on the stock. HSBC started coverage on shares of GE Vernova in a research report on Monday, August 12th. They issued a “buy” rating and a $215.00 target price for the company. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Mizuho boosted their price objective 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $189.83.

About GE Vernova

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.