Spinnaker Trust Invests $350,000 in GE Vernova Inc. (NYSE:GEV)

Spinnaker Trust purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,043 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors have also made changes to their positions in GEV. Aspire Private Capital LLC acquired a new position in GE Vernova in the 2nd quarter valued at $40,000. GAMMA Investing LLC acquired a new position in GE Vernova in the second quarter valued at about $776,000. Sequoia Financial Advisors LLC bought a new stake in GE Vernova during the second quarter worth about $2,724,000. Parsons Capital Management Inc. RI acquired a new stake in GE Vernova during the second quarter worth about $275,000. Finally, Armstrong Henry H Associates Inc. bought a new position in GE Vernova in the 2nd quarter valued at about $523,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent analyst reports. Daiwa Capital Markets started coverage on shares of GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price target for the company. Redburn Atlantic assumed coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 target price on the stock. William Blair initiated coverage on GE Vernova in a research note on Thursday. They issued an “outperform” rating on the stock. Argus assumed coverage on GE Vernova in a research report on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective for the company. Finally, Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

GE Vernova Price Performance

NYSE:GEV traded up $9.64 during mid-day trading on Friday, hitting $201.00. 3,347,707 shares of the company’s stock were exchanged, compared to its average volume of 2,537,972. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $201.37. The stock’s 50 day moving average is $175.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Equities research analysts expect that GE Vernova Inc. will post 3.1 EPS for the current 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.