Canandaigua National Bank & Trust Co. Has $675,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Canandaigua National Bank & Trust Co. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,646 shares of the company’s stock after selling 352 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in GE Vernova were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators bought a new position in shares of GE Vernova during the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new position in shares of GE Vernova during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova during the second quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new position in shares of GE Vernova during the second quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new position in shares of GE Vernova during the second quarter worth approximately $27,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. William Blair assumed coverage on shares of 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 research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 price objective on the stock. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday. HSBC reissued a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday. Finally, BMO Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday, September 13th. They issued an “outperform” rating and a $245.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.98.

GE Vernova Stock Performance

Shares of NYSE:GEV traded up $10.91 during mid-day trading on Friday, reaching $265.59. 3,159,216 shares of the company’s stock were exchanged, compared to its average volume of 3,736,874. The firm’s fifty day simple moving average is $205.35. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $266.42.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Sell-side analysts forecast that GE Vernova Inc. will post 2.83 EPS for the current 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.