Wellington Shields Capital Management LLC Buys Shares of 2,069 GE Vernova Inc. (NYSE:GEV)

Wellington Shields Capital Management LLC bought a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,069 shares of the company’s stock, valued at approximately $355,000.

Several other hedge funds have also recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in GE Vernova by 1.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after buying an additional 61 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after acquiring an additional 109 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new stake in shares of GE Vernova in the second quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $26,000. Finally, Gradient Investments LLC bought a new position in GE Vernova during the second quarter valued at approximately $27,000.

GE Vernova Stock Performance

GEV stock traded down $0.18 during trading on Friday, reaching $198.26. The company’s stock had a trading volume of 289,467 shares, compared to its average volume of 3,825,574. The company has a fifty day moving average price of $177.44. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $204.19.

GE Vernova (NYSE:GEV) last released 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 business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. On average, sell-side analysts forecast that GE Vernova Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Mizuho lifted their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Redburn Atlantic initiated coverage on GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective for the company. HSBC started coverage on GE Vernova in a report on Monday, August 12th. They issued a “buy” rating and a $215.00 target price on the stock. Daiwa Capital Markets initiated coverage on GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 price target for the company. Finally, Hsbc Global Res upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $194.28.

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.