Wesleyan Assurance Society Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Wesleyan Assurance Society purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,925 shares of the company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Aspire Private Capital LLC bought a new stake in GE Vernova during the 2nd quarter valued at $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 purchased a new stake in GE Vernova during the 2nd quarter worth about $2,724,000. Armstrong Henry H Associates Inc. bought a new position in GE Vernova in the 2nd quarter worth about $523,000. Finally, Parsons Capital Management Inc. RI bought a new position in GE Vernova in the 2nd quarter worth about $275,000.

GE Vernova Price Performance

NYSE:GEV traded down $2.71 during mid-day trading on Friday, reaching $183.29. The stock had a trading volume of 4,872,683 shares, compared to its average volume of 3,929,203. The company has a 50 day moving average price of $174.65. GE Vernova Inc. has a one year low of $115.00 and a one year high of $190.80.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations 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 Analyst Weigh In

A number of brokerages have recently issued reports on GEV. The Goldman Sachs Group increased their price target on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Argus began coverage on shares of GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price on the stock. HSBC initiated coverage on shares of GE Vernova in a report on Monday, August 12th. They issued a “buy” rating and a $215.00 price target for the company. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

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.