Public Employees Retirement Association of Colorado Takes $6.60 Million Position in GE Vernova Inc. (NYSE: GEV)

Public Employees Retirement Association of Colorado purchased a new stake in GE Vernova Inc. (NYSE:GEV – Free Report) during the second quarter, according to the fund’s most recent Form 13F filing with the SEC. The fund bought 38,497 shares of the company’s stock, valued at approximately $6,603,000.

Other institutional investors and hedge funds also made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $26,000. Finally, Gradient Investments LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $27,000.

GE Vernova shares rise 0.4%

Shares of GE Vernova opened at $245.46 on Friday. The company has a 50-day moving average of $188.08. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $250.85.

GE Vernova (NYSE:GEV – Get Free Report) last released its earnings results on Wednesday, July 24. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. As a group, research analysts expect GE Vernova Inc. to post 3.02 EPS for the current year.

Wall Street analysts predict growth

A number of research analysts have recently weighed in on GEV stock. Evercore ISI increased their price target on shares of GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Morgan Stanley increased their price target on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Jefferies Financial Group increased their price target on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday. Redburn Atlantic initiated coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They gave the company a “neutral” rating and a $178.00 price target. Finally, JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday. their price objective on shares of GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price objective of $219.42.

Get our latest analysis on GEV

GE Vernova Profile

(Free Report)

GE Vernova LLC, an energy company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segment generates and sells electricity using hydroelectric, gas, nuclear, and steam power. The Wind segment manufactures and sells wind turbine blades; and the Electrification segment provides grid solutions, energy conversion, solar, and storage solutions.

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