Forsta AP Fonden Buys 6,400 Shares of GE Vernova Inc. (NYSE:GEV)

Forsta AP Fonden boosted its stake in GE Vernova Inc. (NYSE:GEV) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,131 shares of the company’s stock after acquiring an additional 6,400 shares during the period. Forsta AP Fonden’s holdings in GE Vernova were worth $14,567,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. CWC Advisors LLC. bought a new stake in GE Vernova in the third quarter worth about $468,000. Burford Brothers Inc. raised its position in shares of GE Vernova by 6.2% in the third quarter. Burford Brothers Inc. now owns 3,099 shares of the company’s stock valued at $790,000 after purchasing an additional 180 shares during the period. Cromwell Holdings LLC raised its position in shares of GE Vernova by 7.0% in the third quarter. Cromwell Holdings LLC now owns 814 shares of the company’s stock valued at $208,000 after purchasing an additional 53 shares during the period. Country Club Bank bought a new stake in shares of GE Vernova in the third quarter valued at approximately $201,000. Finally, Massachusetts Wealth Management raised its position in shares of GE Vernova by 7.0% in the third quarter. Massachusetts Wealth Management now owns 5,120 shares of the company’s stock valued at $1,305,000 after purchasing an additional 335 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Mizuho boosted their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their price target on shares of GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial boosted their price target on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday. HSBC reissued a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Finally, Jefferies Financial Group boosted their price objective on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Price Performance

GEV stock opened at $293.54 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $298.81. The firm has a 50 day simple moving average of $235.14 and a two-hundred day simple moving average of $190.27.

GE Vernova (NYSE:GEV) last released its quarterly 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 company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, sell-side analysts expect that GE Vernova Inc. will post 2.65 EPS for the current fiscal year.

GE Vernova Company 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.