Silverlake Wealth Management LLC Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Silverlake Wealth Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 933 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Newport Trust Company LLC bought a new position in GE Vernova during the 2nd quarter valued at approximately $650,140,000. Bank of New York Mellon Corp bought a new position in GE Vernova during the 2nd quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova during the 1st quarter valued at approximately $367,474,000. Marshall Wace LLP bought a new position in GE Vernova during the 2nd quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova in the 2nd quarter worth $293,699,000.

Analysts Set New Price Targets

A number of research firms have commented on GEV. William Blair began coverage on GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Barclays lifted their target price on GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Truist Financial began coverage on GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Daiwa America raised GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Finally, Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $300.00 in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.63.

GE Vernova Trading Up 0.9 %

NYSE GEV opened at $266.89 on Friday. The firm’s fifty day moving average is $214.80. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $270.11.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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. On average, equities research analysts anticipate that GE Vernova Inc. will post 3.21 EPS for the current year.

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.