GE Vernova Inc. (NYSE:GEV) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 96.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,065 shares of the company’s stock after buying an additional 4,940 shares during the period. Griffin Asset Management Inc.’s holdings in GE Vernova were worth $2,566,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Petredis Investment Advisors LLC raised its position in shares of GE Vernova by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 13,412 shares of the company’s stock worth $3,420,000 after acquiring an additional 53 shares during the period. Magnus Financial Group LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at about $203,000. Creative Planning raised its holdings in GE Vernova by 11.4% in 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 period. Wesbanco Bank Inc. boosted its position in GE Vernova by 5.8% during the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock worth $3,757,000 after purchasing an additional 802 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in GE Vernova during the third quarter worth approximately $5,818,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GEV. Daiwa America raised GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Redburn Atlantic started coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 price target on the stock. Finally, Truist Financial initiated coverage on GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $243.78.

GE Vernova Trading Down 1.2 %

NYSE:GEV opened at $266.36 on Wednesday. The company has a 50-day moving average price of $218.99. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $270.87.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Equities analysts expect 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.