Rockland Trust Co. Sells 672 Shares of GE Vernova Inc. (NYSE:GEV)

Rockland Trust Co. lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,896 shares of the company’s stock after selling 672 shares during the period. Rockland Trust Co.’s holdings in GE Vernova were worth $3,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in GE Vernova by 1.7% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after acquiring an additional 61 shares in the last quarter. Stonehearth Capital Management LLC lifted its holdings in shares of GE Vernova by 6.1% during the third quarter. Stonehearth Capital Management LLC now owns 1,474 shares of the company’s stock valued at $376,000 after purchasing an additional 85 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in GE Vernova by 9.5% during the 3rd 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 in the last quarter. Wedmont Private Capital raised its stake in GE Vernova by 3.2% during the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after buying an additional 109 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the second quarter valued at $25,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEV. Evercore ISI increased their target price on GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup assumed coverage on shares of GE Vernova in a research note on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective for the company. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Redburn Atlantic began coverage on GE Vernova in a research note on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $232.98.

GE Vernova Price Performance

GEV opened at $254.64 on Friday. The stock has a 50 day moving average price of $203.50. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $258.64.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts anticipate that GE Vernova Inc. will post 2.83 earnings per share 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.