Cornerstone Advisors LLC Acquires Shares of 12,500 GE Vernova Inc. (NYSE:GEV)

Cornerstone Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,500 shares of the company’s stock, valued at approximately $2,144,000.

A number of other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova during 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 worth about $217,569,000. Dimensional Fund Advisors LP acquired a new stake in GE Vernova in the 2nd quarter worth about $176,775,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in GE Vernova in the 2nd quarter worth about $119,390,000.

GE Vernova Price Performance

NYSE:GEV opened at $229.93 on Tuesday. The stock has a fifty day simple moving average of $183.00. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $231.51.

GE Vernova (NYSE:GEV) last issued its earnings results 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 for the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts anticipate that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays assumed coverage on GE Vernova in a report on Monday. They issued an “overweight” rating and a $250.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup assumed coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $180.00 target price on shares of GE Vernova in a report on Monday, July 22nd. Finally, Morgan Stanley boosted their target price on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.64.

About GE Vernova

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.