Keene & Associates Inc. Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Keene & Associates Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,140 shares of the company’s stock, valued at approximately $539,000.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova in the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in GE Vernova in the 1st quarter valued at about $367,474,000. Assenagon Asset Management S.A. acquired a new stake in GE Vernova in the 2nd quarter valued at about $217,569,000. Waverton Investment Management Ltd bought a new position in shares of GE Vernova during the 2nd quarter valued at about $113,497,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $104,273,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Mizuho raised their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Daiwa Capital Markets started coverage on GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective for the company. Redburn Atlantic began coverage on GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price on the stock. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group lifted their price target on GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $203.03.

GE Vernova Price Performance

GEV stock opened at $225.59 on Monday. The business has a 50 day moving average of $181.89. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $228.68.

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 for the quarter, compared to analysts’ expectations of $8.42 billion. On average, research analysts expect that GE Vernova Inc. will post 3.02 earnings per share 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.