Peregrine Asset Advisers Inc. Takes $2.47 Million Position in GE Vernova Inc. (NYSE:GEV)

Peregrine Asset Advisers Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel reports. The firm bought 14,427 shares of the company’s stock, valued at approximately $2,474,000.

Other large investors have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators bought a new stake in shares of GE Vernova in the 2nd quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the second quarter valued at about $25,000. Global Trust Asset Management LLC bought a new stake in GE Vernova in the second quarter worth about $26,000. Finally, Gradient Investments LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at approximately $27,000.

GE Vernova Trading Up 1.9 %

NYSE GEV opened at $229.93 on Tuesday. The business has a 50-day simple moving average of $183.00. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $231.51.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) 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. As a group, analysts anticipate that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Evercore ISI lifted their price target on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Morgan Stanley boosted their target price on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price objective for the company. HSBC assumed coverage on shares of GE Vernova in a report on Monday, August 12th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of GE Vernova in a research note on Wednesday, September 4th. They issued a “buy” rating and a $261.00 target price for the company. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.64.

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.