Jennison Associates LLC Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Jennison Associates LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,298 shares of the company’s stock after purchasing an additional 1,733 shares during the quarter. Jennison Associates LLC’s holdings in GE Vernova were worth $2,626,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GEV. Newport Trust Company LLC purchased a new stake in shares of GE Vernova during the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova in the 1st quarter valued at $367,474,000. WCM Investment Management LLC lifted its position in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of GE Vernova during the second quarter worth $399,770,000.

GE Vernova Stock Up 2.7 %

Shares of GEV opened at $349.16 on Friday. The stock’s 50 day moving average is $286.37 and its two-hundred day moving average is $215.05. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Truist Financial raised their price target on GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI increased their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada increased their target price on shares of GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $270.02.

About GE Vernova

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.