Raymond James Trust N.A. Invests $3.17 Million in GE Vernova Inc. (NYSE:GEV)

Raymond James Trust N.A. purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,470 shares of the company’s stock, valued at approximately $3,168,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Aspire Private Capital LLC bought a new position in shares of GE Vernova during the second quarter worth approximately $40,000. GAMMA Investing LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $776,000. Sequoia Financial Advisors LLC acquired a new position in GE Vernova in the second quarter valued at about $2,724,000. Parsons Capital Management Inc. RI bought a new position in GE Vernova in the 2nd quarter valued at about $275,000. Finally, Armstrong Henry H Associates Inc. acquired a new position in shares of GE Vernova in the 2nd quarter valued at approximately $523,000.

GE Vernova Price Performance

Shares of GEV traded down $1.26 during mid-day trading on Monday, reaching $182.03. 315,787 shares of the company were exchanged, compared to its average volume of 3,893,273. The stock has a 50 day simple moving average of $174.65. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $190.80.

GE Vernova (NYSE:GEV) last released its quarterly 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 for the quarter, compared to the consensus estimate of $8.42 billion. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 3.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GEV shares. Mizuho lifted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Redburn Atlantic assumed coverage on GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. HSBC began coverage on shares of GE Vernova in a research report on Monday, August 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, Daiwa Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday, June 21st. They set an “outperform” rating and a $201.50 target price on the stock. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

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.