GE Vernova Inc. (NYSE:GEV) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 59.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 427 shares of the company’s stock after purchasing an additional 159 shares during the period. Sound Income Strategies LLC’s holdings in GE Vernova were worth $109,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Newport Trust Company LLC acquired a new stake in 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 second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova in the first quarter valued at approximately $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $293,699,000.

GE Vernova Stock Up 1.0 %

GEV stock opened at $269.54 on Tuesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $270.83. The firm has a 50 day moving average of $216.95.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts predict that GE Vernova Inc. will post 3.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $300.00 in a research note on Tuesday, September 17th. Truist Financial began coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Evercore ISI increased their price target on GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.78.

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.