Massmutual Trust Co. FSB ADV Has $279,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Massmutual Trust Co. FSB ADV increased its position in GE Vernova Inc. (NYSE:GEV) by 9.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,094 shares of the company’s stock after purchasing an additional 95 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in GE Vernova were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Newport Trust Company LLC purchased a new stake in shares of GE Vernova in the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp acquired a new position in GE Vernova in the 2nd quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in GE Vernova in the 1st quarter worth approximately $367,474,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova during the 2nd quarter valued at $399,770,000. Finally, Legal & General Group Plc purchased a new position in shares of GE Vernova during the 2nd quarter valued at $293,699,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GEV shares. Guggenheim started coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective for the company. Royal Bank of Canada lifted their price target on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Redburn Atlantic started coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Truist Financial initiated coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Finally, Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.98.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $265.59 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $266.42. The business has a fifty day moving average of $205.35.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, sell-side analysts anticipate that GE Vernova Inc. will post 2.83 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.