Columbia Asset Management Makes New $267,000 Investment in GE Vernova Inc. (NYSE:GEV)

Columbia Asset Management bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,557 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after buying an additional 61 shares in the last quarter. Wedmont Private Capital lifted its holdings in GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after buying an additional 109 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in GE Vernova during the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $26,000. Finally, Gradient Investments LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $27,000.

Analyst Ratings Changes

GEV has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of GE Vernova in a research report on Monday, July 22nd. Citigroup initiated coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price objective on the stock. HSBC initiated coverage on shares of GE Vernova in a research report on Monday, August 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Redburn Atlantic initiated coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Finally, Argus assumed coverage on shares of GE Vernova in a research report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.28.

GE Vernova Trading Down 0.6 %

Shares of GE Vernova stock opened at $198.44 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $204.19. The stock’s fifty day simple moving average is $177.44.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, research analysts forecast that GE Vernova Inc. will post 3.1 EPS 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.