GE Vernova Inc. (NYSE:GEV) Stock Holdings Increased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 53.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,867 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Sovereign Financial Group Inc.’s holdings in GE Vernova were worth $731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GEV. Aspire Private Capital LLC acquired a new stake in GE Vernova in the second quarter worth about $40,000. Legal & General Group Plc bought a new stake in shares of GE Vernova during the 2nd quarter worth about $293,699,000. Central Pacific Bank Trust Division lifted its stake in shares of GE Vernova by 1,242.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock worth $599,000 after acquiring an additional 2,175 shares during the period. Czech National Bank boosted its holdings in shares of GE Vernova by 7.2% in the third quarter. Czech National Bank now owns 55,980 shares of the company’s stock valued at $14,274,000 after acquiring an additional 3,751 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of GE Vernova during the third quarter valued at approximately $2,042,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $264.27 on Wednesday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $266.56. The business’s 50-day simple moving average is $209.19.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $8.42 billion. Equities analysts expect that GE Vernova Inc. will post 2.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets began coverage on GE Vernova in a research report on Friday, September 13th. They issued an “outperform” rating and a $245.00 target price for the company. William Blair began coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 price target for the company. Truist Financial assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Seven research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.98.

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.