Sequoia Financial Advisors LLC Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Sequoia Financial Advisors LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 30.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,708 shares of the company’s stock after buying an additional 4,823 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in GE Vernova were worth $5,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Traphagen Investment Advisors LLC bought a new position in shares of GE Vernova during the third quarter valued at $338,000. Graybill Wealth Management LTD. increased its holdings in shares of GE Vernova by 0.7% during the third quarter. Graybill Wealth Management LTD. now owns 7,040 shares of the company’s stock valued at $1,795,000 after acquiring an additional 48 shares in the last quarter. Roof Eidam Maycock Peralta LLC bought a new position in shares of GE Vernova during the third quarter valued at $238,000. Plimoth Trust Co. LLC increased its holdings in shares of GE Vernova by 1.4% during the third quarter. Plimoth Trust Co. LLC now owns 3,279 shares of the company’s stock valued at $836,000 after acquiring an additional 44 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after acquiring an additional 40 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently commented on GEV. Morgan Stanley lifted their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. HSBC restated a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Redburn Atlantic assumed coverage on GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research report on Monday. They set a “buy” rating and a $354.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price target on GE Vernova from $240.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.83.

GE Vernova Price Performance

NYSE GEV opened at $276.37 on Wednesday. The business’s 50 day moving average price is $228.87 and its 200-day moving average price is $187.33. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $281.37.

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 the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, equities research analysts expect that GE Vernova Inc. will post 3.21 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.