GE Vernova Inc. (NYSE:GEV) Shares Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,542 shares of the company’s stock after purchasing an additional 1,726 shares during the quarter. GE Vernova accounts for approximately 1.3% of Segment Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Segment Wealth Management LLC’s holdings in GE Vernova were worth $18,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova during the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova during the 1st quarter valued at about $367,474,000. Marshall Wace LLP purchased a new position in GE Vernova during the 2nd quarter valued at about $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter valued at about $293,699,000.

GE Vernova Stock Down 0.0 %

Shares of GEV opened at $276.37 on Wednesday. The stock has a 50 day moving average price of $228.87 and a 200 day moving average price of $187.33. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $281.37.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Research analysts anticipate that GE Vernova Inc. will post 3.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Guggenheim began coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price for the company. Oppenheimer began coverage on GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. Barclays raised their target price on GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $262.00 target price on shares of GE Vernova in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $251.83.

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.