Patriot Financial Group Insurance Agency LLC Invests $321,000 in GE Vernova Inc. (NYSE:GEV)

Patriot Financial Group Insurance Agency LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel.com reports. The fund purchased 1,872 shares of the company’s stock, valued at approximately $321,000.

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

GE Vernova Stock Performance

Shares of GE Vernova stock traded up $3.42 during trading on Tuesday, reaching $185.55. The company’s stock had a trading volume of 1,449,758 shares, compared to its average volume of 3,890,471. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $190.80. The firm has a 50-day simple moving average of $174.92.

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, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, equities research analysts forecast that GE Vernova Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEV. Argus assumed coverage on shares of GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price for the company. Evercore ISI lifted their price objective on shares of GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price target on shares of GE Vernova in a report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of GE Vernova in a research report on Monday, July 22nd. Finally, Citigroup initiated coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $189.83.

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.