Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,725 Shares of GE Vernova Inc. (NYSE:GEV)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.1% during the third quarter, Holdings Channel reports. The firm owned 29,788 shares of the company’s stock after purchasing an additional 2,725 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GE Vernova were worth $7,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Deseret Mutual Benefit Administrators bought a new position in GE Vernova during the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the second quarter valued at approximately $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova during the second quarter valued at approximately $26,000. Finally, Timber Creek Capital Management LLC purchased a new stake in GE Vernova during the second quarter valued at approximately $27,000.

Analysts Set New Price Targets

A number of analysts have commented on GEV shares. 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 target price for the company. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $240.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Mizuho increased their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $300.00 in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $246.73.

GE Vernova Stock Performance

Shares of GEV stock opened at $272.92 on Friday. The company’s 50-day simple moving average is $224.93 and its two-hundred day simple moving average is $184.85. GE Vernova Inc. has a one year low of $115.00 and a one year high of $281.37.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, analysts anticipate that GE Vernova Inc. will post 3.21 EPS for the current fiscal year.

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.