Eastern Bank Makes New $612,000 Investment in GE Vernova Inc. (NYSE:GEV)

Eastern Bank bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,401 shares of the company’s stock, valued at approximately $612,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Castleview Partners LLC acquired a new position in GE Vernova during the 3rd quarter valued at approximately $28,000. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova during the second quarter valued at $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova during the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova during the second quarter worth about $25,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth about $26,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $279.83 on Thursday. The stock’s fifty day simple moving average is $230.78 and its 200 day simple moving average is $187.97. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $282.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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. Analysts predict that GE Vernova Inc. will post 3.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GEV. Redburn Atlantic began coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Evercore ISI boosted their price objective on GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. William Blair assumed coverage on GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $300.00 in a research note on Tuesday, September 17th. Finally, Truist Financial assumed coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $251.83.

GE Vernova Company 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.