West Michigan Advisors LLC Makes Move in GE Vernova Inc. (NYSE:GEV)

On October 26th, 2024, it was reported that West Michigan Advisors LLC has acquired a new stake in GE Vernova Inc. (NYSE:GEV). According to their recent filing with the Securities and Exchange Commission (SEC), the firm purchased 838 shares of GE Vernova's stock, with a total value of approximately $214,000.

Other institutional investors have also been active in buying and selling shares of GE Vernova. Notably, the Maryland State Retirement & Pension System acquired a new stake earlier in the first quarter, valued at $2,892,000. Additionally, Boit C F David purchased shares worth around $149,000 during the same period, while ANTIPODES PARTNERS Ltd acquired shares valued at about $30,000. Nwam LLC invested approximately $1,531,000, and LRI Investments LLC bought a stake worth roughly $63,000 in GE Vernova during the first quarter as well.

Recent Stock Performance

The stock price of GE Vernova was reported at $293.50 at market opening on Friday, showing a 1.2% decline. The company has had a price range over the past year with a low of $115.00 and a high of $298.81. Its 50-day and 200-day simple moving averages are reported at $232.95 and $188.73, respectively.

In its latest quarterly earnings report, released on July 24th, GE Vernova reported $0.71 earnings per share (EPS), exceeding analysts' expectations of $0.69. The company generated revenue of $8.20 billion for the quarter, falling slightly short of expected revenues of $8.42 billion. Analysts forecast that GE Vernova Inc. will record an EPS of 3.21 for the current fiscal year.

Analyst Ratings and Projections

Several analysts have recently updated their ratings for GE Vernova. The Royal Bank of Canada raised its price target from $262.00 to $285.00, maintaining an “outperform” rating. Jefferies Financial Group also increased its price target from $293.00 to $336.00, giving the stock a “buy” rating. Other notable changes include JPMorgan Chase & Co. boosting their target from $285.00 to $330.00 with an “overweight” rating, and Barclays raising their target from $300.00 to $320.00, also rating it “overweight.” Morgan Stanley similarly increased its price target from $256.00 to $301.00. Overall, analysts' ratings show seven hold ratings, seventeen buy ratings, and one strong buy rating for the stock, leading to a consensus of a “Moderate Buy” with an average target price of $261.40.

About GE Vernova

GE Vernova LLC is an energy company involved in electricity generation. The firm operates primarily through three segments: Power, Wind, and Electrification. The Power segment deals with the generation and sale of electricity using hydro, gas, nuclear, and steam-powered technologies. The Wind segment is responsible for manufacturing and selling wind turbine blades, while the Electrification segment provides solutions for grid management, power conversion, solar energy, and energy storage.

Further Insights

Investors may wish to monitor what other hedge funds are doing in relation to GE Vernova Inc. to gain additional insights into potential market movements and corporate developments.

Investment, Stock, Acquisition