Farmers Trust Co. Sells 50 Shares of GE Vernova Inc. (NYSE:GEV)

Farmers Trust Co. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,815 shares of the company’s stock after selling 50 shares during the quarter. Farmers Trust Co.’s holdings in GE Vernova were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Newport Trust Company LLC purchased a new stake in shares of GE Vernova during the second quarter valued at about $650,140,000. Bank of New York Mellon Corp bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in GE Vernova during the first quarter valued at approximately $367,474,000. Marshall Wace LLP acquired a new stake in GE Vernova in the second quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova in the second quarter worth $293,699,000.

Analyst Ratings Changes

Several analysts have recently commented on the company. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Argus started coverage on GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 price target for the company. Redburn Atlantic started coverage on GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target on the stock. Evercore ISI upped their price objective on shares of GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Mizuho lifted their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $232.98.

GE Vernova Trading Up 0.9 %

Shares of GEV opened at $254.64 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $258.64. The business has a 50-day moving average of $203.50.

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. On average, research analysts predict that GE Vernova Inc. will post 2.83 EPS for the current fiscal year.

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.