GE Vernova Inc. (NYSE:GEV) Shares Sold by First PREMIER Bank

First PREMIER Bank cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 877 shares of the company’s stock after selling 88 shares during the quarter. First PREMIER Bank’s holdings in GE Vernova were worth $224,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators purchased a new stake in GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of GE Vernova in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in GE Vernova during the second quarter worth about $25,000. Global Trust Asset Management LLC purchased a new position in GE Vernova during the second quarter worth about $26,000. Finally, Gradient Investments LLC acquired a new position in GE Vernova in the 2nd quarter valued at about $27,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GEV shares. The Goldman Sachs Group raised their price target on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $300.00 in a research note on Tuesday, September 17th. HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Morgan Stanley raised their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Truist Financial initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Seven 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.98.

GE Vernova Trading Up 0.4 %

Shares of GE Vernova stock traded up $1.15 during trading hours on Wednesday, reaching $265.42. 188,709 shares of the company were exchanged, compared to its average volume of 3,681,404. The firm has a fifty day moving average of $209.19. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $266.56.

GE Vernova (NYSE:GEV) last posted its quarterly 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 company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Sell-side analysts predict 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.