Nicholas Investment Partners LP Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Nicholas Investment Partners LP bought a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,825 shares of the company’s stock, valued at approximately $3,743,000.

Several other hedge funds have also recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of GE Vernova by 1.7% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after acquiring an additional 61 shares in the last quarter. Wedmont Private Capital boosted its position in GE Vernova by 3.2% in the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after buying an additional 109 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in GE Vernova in the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $25,000. Finally, Global Trust Asset Management LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $26,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Argus initiated coverage on GE Vernova in a research report on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price on the stock. The Goldman Sachs Group upped their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI upped their target price on GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $194.28.

GE Vernova Price Performance

NYSE GEV opened at $209.15 on Thursday. The company has a fifty day moving average price of $180.04. GE Vernova Inc. has a one year low of $115.00 and a one year high of $210.12.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. On average, sell-side analysts forecast that GE Vernova Inc. will post 3.02 earnings per share for the current year.

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.