PGGM Investments Makes New Investment in GE Vernova Inc. (NYSE:GEV)

PGGM Investments purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,450 shares of the company’s stock, valued at approximately $4,022,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Aspire Private Capital LLC purchased a new stake in GE Vernova during the 2nd quarter worth about $40,000. GAMMA Investing LLC purchased a new stake in shares of GE Vernova during the second quarter worth approximately $776,000. Sequoia Financial Advisors LLC purchased a new stake in shares of GE Vernova during the second quarter worth approximately $2,724,000. Armstrong Henry H Associates Inc. acquired a new stake in GE Vernova in the second quarter valued at approximately $523,000. Finally, Maryland State Retirement & Pension System purchased a new position in GE Vernova in the first quarter worth approximately $2,892,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Citigroup started coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. BNP Paribas began coverage on GE Vernova in a report on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on GE Vernova from $195.00 to $216.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley upgraded shares of GE Vernova from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $220.00 in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $189.83.

GE Vernova Stock Performance

GEV traded up $3.14 during trading on Thursday, reaching $187.30. 1,689,960 shares of the stock were exchanged, compared to its average volume of 4,008,084. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $189.93. The stock’s 50 day moving average price is $172.36.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. On average, analysts predict that GE Vernova Inc. will post 3.43 EPS 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.