Cigna Investments Inc. New Buys New Stake in GE Vernova Inc. (NYSE:GEV)

Cigna Investments Inc. New purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel reports. The firm purchased 2,843 shares of the company’s stock, valued at approximately $487,000.

Other large investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $26,000. First Community Trust NA acquired a new position in GE Vernova in the 2nd quarter valued at about $29,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of GE Vernova in the first quarter valued at approximately $30,000. Lynx Investment Advisory purchased a new position in GE Vernova in the 2nd quarter valued at approximately $34,000. Finally, Rise Advisors LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $35,000.

GE Vernova Price Performance

Shares of NYSE GEV traded up $4.54 during midday trading on Thursday, reaching $188.70. 3,477,402 shares of the stock were exchanged, compared to its average volume of 4,027,661. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $190.80. The firm has a 50-day moving average price of $172.36.

GE Vernova (NYSE:GEV) last issued its quarterly 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 business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Analysts anticipate that GE Vernova Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho boosted their price objective on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. HSBC began coverage on GE Vernova in a research report on Monday. They set a “buy” rating and a $215.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on GE Vernova from $195.00 to $216.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Redburn Atlantic assumed coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Finally, Raymond James assumed coverage on GE Vernova in a report on Wednesday, April 17th. They set an “outperform” rating and a $160.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $189.83.

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.