Cornerstone Wealth Management LLC Cuts Stock Position in GE Vernova Inc. (NYSE:GEV)

Cornerstone Wealth Management LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,289 shares of the company’s stock after selling 69 shares during the period. Cornerstone Wealth Management LLC’s holdings in GE Vernova were worth $584,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Newport Trust Company LLC acquired a new position in GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp acquired a new position in GE Vernova during the 2nd quarter worth $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova during the 1st quarter worth $367,474,000. Marshall Wace LLP acquired a new position in GE Vernova during the 2nd quarter worth $399,770,000. Finally, Legal & General Group Plc acquired a new position in GE Vernova during the 2nd quarter worth $293,699,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GEV. HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Barclays lifted their price target on shares of GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Oppenheimer initiated coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. Evercore ISI boosted their target price on shares of GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $246.73.

GE Vernova Stock Up 0.3 %

Shares of GEV opened at $272.92 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 50 day moving average of $224.93 and a 200-day moving average of $184.85.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts predict that GE Vernova Inc. will post 3.21 EPS for the current fiscal year.

GE Vernova Company 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.