Pointe Capital Management LLC Makes New $277,000 Investment in GE Vernova Inc. (NYSE:GEV)

Pointe Capital Management LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,086 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Global Retirement Partners LLC lifted its position in shares of GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after buying an additional 40 shares during the last quarter. Whittier Trust Co. lifted its position in shares of GE Vernova by 1.9% during the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after buying an additional 40 shares during the last quarter. First Bancorp Inc ME lifted its position in shares of GE Vernova by 3.1% during the 3rd quarter. First Bancorp Inc ME now owns 1,450 shares of the company’s stock valued at $370,000 after buying an additional 44 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in shares of GE Vernova by 1.4% during the 3rd quarter. Plimoth Trust Co. LLC now owns 3,279 shares of the company’s stock valued at $836,000 after buying an additional 44 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in shares of GE Vernova by 1.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock valued at $706,000 after buying an additional 48 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. William Blair started coverage on GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Trading Down 1.2 %

GEV stock traded down $3.46 during trading on Friday, hitting $293.54. 2,087,779 shares of the company traded hands, compared to its average volume of 2,307,115. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $298.81. The company has a 50-day moving average of $235.14 and a 200-day moving average of $190.27.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 2.65 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.