Clearstead Trust LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Clearstead Trust LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 200 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds also recently bought and sold shares of GEV. Bank of New York Mellon Corp acquired a new position in GE Vernova in the 2nd quarter worth about $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova in the 1st quarter worth about $367,474,000. Assenagon Asset Management S.A. acquired a new position in GE Vernova in the 2nd quarter worth about $217,569,000. Dimensional Fund Advisors LP acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $176,775,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $119,390,000.

GE Vernova Stock Up 1.9 %

Shares of GEV stock opened at $229.93 on Tuesday. The stock has a 50 day moving average price of $183.00. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $231.51.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 3.02 EPS for the current year.

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on GE Vernova in a report on Friday. They set an “outperform” rating and a $245.00 price objective on the stock. Mizuho increased their price objective on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Morgan Stanley increased their price objective on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a report on Friday. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $205.64.

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.