Grandfield & Dodd LLC Sells 15,772 Shares of GE Vernova Inc. (NYSE:GEV)

Grandfield & Dodd LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 23.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,413 shares of the company’s stock after selling 15,772 shares during the quarter. Grandfield & Dodd LLC’s holdings in GE Vernova were worth $12,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the second quarter valued at about $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova in the second quarter worth $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova in the first quarter worth $367,474,000. WCM Investment Management LLC lifted its position in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of GE Vernova during the 2nd quarter valued at $399,770,000.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Evercore ISI increased their price target on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America increased their target price on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $264.55.

GE Vernova Stock Performance

Shares of GEV stock opened at $339.92 on Wednesday. The firm’s 50 day moving average is $278.72 and its 200 day moving average is $211.66. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $349.79.

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.