Ferguson Wellman Capital Management Inc. Decreases Stake in GE Vernova Inc. (NYSE:GEV)

Ferguson Wellman Capital Management Inc. reduced its position in GE Vernova Inc. (NYSE:GEV) by 18.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,444 shares of the company’s stock after selling 546 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in GE Vernova were worth $623,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in shares of GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after buying an additional 40 shares in the last quarter. First Bancorp Inc ME lifted its position in shares of GE Vernova by 3.1% in the third quarter. First Bancorp Inc ME now owns 1,450 shares of the company’s stock worth $370,000 after buying an additional 44 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of GE Vernova by 1.8% in the third quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock worth $706,000 after buying an additional 48 shares in the last quarter. Merrion Investment Management Co LLC lifted its position in shares of GE Vernova by 0.8% in the third quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock worth $1,594,000 after buying an additional 50 shares in the last quarter. Finally, Parisi Gray Wealth Management lifted its position in shares of GE Vernova by 3.5% in the third quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock worth $380,000 after buying an additional 51 shares in the last quarter.

GE Vernova Trading Up 0.3 %

Shares of NYSE GEV opened at $272.72 on Friday. The stock has a 50 day moving average price of $224.93 and a 200 day moving average price of $184.85. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $281.37.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. Research analysts predict that GE Vernova Inc. will post 3.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. BMO Capital Markets boosted their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group boosted their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays boosted their price objective on GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $262.00 price objective on shares of GE Vernova in a research note on Friday. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.73.

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.