Swedbank AB Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

Swedbank AB lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.1% in the third quarter, HoldingsChannel.com reports. The fund owned 36,214 shares of the company’s stock after selling 45 shares during the quarter. Swedbank AB’s holdings in GE Vernova were worth $9,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Planning raised its position in shares of GE Vernova by 11.4% during the 3rd quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after purchasing an additional 5,382 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of GE Vernova by 5.8% in the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock worth $3,757,000 after acquiring an additional 802 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of GE Vernova in the third quarter valued at $5,818,000. Armstrong Advisory Group Inc. lifted its position in shares of GE Vernova by 68.3% in the third quarter. Armstrong Advisory Group Inc. now owns 771 shares of the company’s stock valued at $197,000 after acquiring an additional 313 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of GE Vernova by 59.3% during the third quarter. Sound Income Strategies LLC now owns 427 shares of the company’s stock valued at $109,000 after acquiring an additional 159 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GEV shares. William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Morgan Stanley raised their target price on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Jefferies Financial Group boosted their price target on GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a report on Friday, September 20th. The Goldman Sachs Group raised their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Daiwa Capital Markets assumed coverage on GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price for the company. Seven 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

GE Vernova Stock Down 1.0 %

Shares of GE Vernova stock opened at $272.00 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $281.37. The company has a fifty day moving average price of $223.06 and a 200 day moving average price of $184.23.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Equities research analysts expect that GE Vernova Inc. will post 3.21 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.