NovaPoint Capital LLC Purchases 361 Shares of GE Vernova Inc. (NYSE:GEV)

NovaPoint Capital LLC raised its position in GE Vernova Inc. (NYSE:GEV) by 7.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,053 shares of the company’s stock after buying an additional 361 shares during the quarter. NovaPoint Capital LLC’s holdings in GE Vernova were worth $1,288,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GEV. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the second quarter worth $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova in the 2nd quarter valued at $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova during the 1st quarter worth about $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova during the 2nd quarter worth about $399,770,000. Finally, Legal & General Group Plc bought a new position in shares of GE Vernova in the 2nd quarter valued at about $293,699,000.

GE Vernova Price Performance

NYSE:GEV opened at $272.92 on Friday. The stock has a 50 day simple moving average of $224.93 and a 200 day simple moving average of $184.85. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $281.37.

GE Vernova (NYSE:GEV) last posted its earnings results 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 firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, research analysts forecast that GE Vernova Inc. will post 3.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEV. The Goldman Sachs Group upped their target price on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. HSBC reissued a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Guggenheim assumed coverage on shares of GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price on the stock. William Blair started coverage on shares of GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Daiwa Capital Markets started coverage on shares of GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 price objective for the company. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $246.73.

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.