Connective Portfolio Management LLC Invests $5.36 Million in GE Vernova Inc. (NYSE:GEV)

Connective Portfolio Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,035 shares of the company’s stock, valued at approximately $5,364,000. GE Vernova comprises about 5.9% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 4th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC raised its position in GE Vernova by 1.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock worth $706,000 after purchasing an additional 48 shares during the last quarter. Parisi Gray Wealth Management increased its position in GE Vernova by 3.5% in the third quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock worth $380,000 after purchasing an additional 51 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position 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 valued at $650,000 after purchasing an additional 61 shares during the period. Stonehearth Capital Management LLC grew its position in shares of GE Vernova by 6.1% during the 3rd quarter. Stonehearth Capital Management LLC now owns 1,474 shares of the company’s stock worth $376,000 after buying an additional 85 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in GE Vernova by 9.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,094 shares of the company’s stock valued at $279,000 after buying an additional 95 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on GEV. Daiwa America raised GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their price target on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley boosted their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Jefferies Financial Group boosted their price target on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Barclays upped their price objective on shares of GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.98.

GE Vernova Stock Up 0.3 %

NYSE GEV traded up $0.84 during trading on Wednesday, reaching $265.11. 203,009 shares of the company’s stock were exchanged, compared to its average volume of 3,681,998. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $266.56. The firm’s 50 day simple moving average is $209.19.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, research analysts anticipate that GE Vernova Inc. will post 2.83 EPS for the current fiscal 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.