Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,725 Shares of GE Vernova Inc. (NYSE:GEV)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,788 shares of the company’s stock after acquiring an additional 2,725 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GE Vernova were worth $7,595,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GEV. Newport Trust Company LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova during the 2nd quarter worth $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in shares of GE Vernova during the 1st quarter worth $367,474,000. Marshall Wace LLP bought a new stake in shares of GE Vernova during the 2nd quarter worth $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the 2nd quarter worth $293,699,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. William Blair began coverage on shares of GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Daiwa Capital Markets began coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 price target for the company. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Evercore ISI boosted their price target on shares of GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, HSBC reissued a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.73.

GE Vernova Trading Up 0.3 %

Shares of NYSE GEV opened at $272.92 on Friday. The firm’s 50 day moving average price is $224.93 and its 200-day moving average price is $184.85. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $281.37.

GE Vernova (NYSE:GEV) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $8.42 billion. As a group, research analysts expect that GE Vernova Inc. will post 3.21 earnings per share for the current 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.