Mercer Global Advisors Inc. ADV Invests $51.26 Million in GE Vernova Inc. (NYSE:GEV)

Mercer Global Advisors Inc. ADV acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel.com reports. The fund acquired 298,879 shares of the company’s stock, valued at approximately $51,261,000.

A number of other hedge funds also recently made changes to their positions in the stock. 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 purchased a new position in GE Vernova in the 1st quarter worth $367,474,000. Assenagon Asset Management S.A. purchased a new position in GE Vernova in the 2nd quarter worth $217,569,000. Dimensional Fund Advisors LP purchased a new position in GE Vernova in the 2nd quarter worth $176,775,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in GE Vernova in the 2nd quarter worth $119,390,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $238.57 on Wednesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $240.00. The company’s 50-day moving average is $184.31.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, equities analysts predict that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GEV shares. Jefferies Financial Group started coverage on shares of GE Vernova in a research report on Wednesday, September 4th. They issued a “buy” rating and a $261.00 target price on the stock. Evercore ISI lifted their target price on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. BMO Capital Markets began coverage on shares of GE Vernova in a research report on Friday, September 13th. They issued an “outperform” rating and a $245.00 target price on the stock. Redburn Atlantic began coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.64.

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.