General American Investors Co. Inc. Makes New $9.43 Million Investment in GE Vernova Inc. (NYSE:GEV)

General American Investors Co. Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,000 shares of the company’s stock, valued at approximately $9,433,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEV. Aspire Private Capital LLC bought a new stake in shares of GE Vernova during the second quarter worth $40,000. GAMMA Investing LLC bought a new stake in shares of GE Vernova during the second quarter worth $776,000. Sequoia Financial Advisors LLC bought a new stake in shares of GE Vernova during the second quarter worth $2,724,000. Parsons Capital Management Inc. RI bought a new stake in shares of GE Vernova during the second quarter worth $275,000. Finally, Armstrong Henry H Associates Inc. bought a new stake in shares of GE Vernova during the second quarter worth $523,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GEV shares. Daiwa Capital Markets started coverage on GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 price objective for the company. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Argus started coverage on GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective for the company. The Goldman Sachs Group upped their price objective on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $194.28.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $198.33 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $204.19. The business has a fifty day moving average of $177.98.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Research analysts expect that GE Vernova Inc. will post 3.1 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.