Massachusetts Financial Services Co. MA Lowers Position in GE Vernova Inc. (NYSE:GEV)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 89.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,598 shares of the company’s stock after selling 620,515 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GE Vernova were worth $19,276,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

GEV has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. HSBC reissued a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Barclays lifted their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI increased their target price on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $274.16.

GE Vernova Stock Down 5.8 %

Shares of GEV stock opened at $329.00 on Tuesday. The stock’s 50-day moving average is $288.35 and its two-hundred day moving average is $216.55. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $357.09.

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.