Investment Research & Advisory Group Inc. Decreases Holdings in GE Vernova Inc. (NYSE:GEV)

Investment Research & Advisory Group Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 23.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,769 shares of the company’s stock after selling 825 shares during the period. Investment Research & Advisory Group Inc.’s holdings in GE Vernova were worth $706,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Walker Asset Management LLC bought a new stake in GE Vernova in the third quarter worth about $254,000. Grimes & Company Inc. increased its stake in shares of GE Vernova by 8.1% during the 3rd quarter. Grimes & Company Inc. now owns 3,825 shares of the company’s stock worth $975,000 after purchasing an additional 285 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of GE Vernova by 47.5% in the 3rd quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock worth $2,158,000 after purchasing an additional 2,726 shares during the period. Global Assets Advisory LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $531,000. Finally, Brighton Jones LLC grew its holdings in GE Vernova by 21.8% during the third quarter. Brighton Jones LLC now owns 2,562 shares of the company’s stock valued at $653,000 after purchasing an additional 459 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on GEV shares. Morgan Stanley boosted their target price on GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a research note on Thursday. HSBC restated a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Barclays lifted their target price on shares of GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America upped their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Trading Up 6.1 %

Shares of NYSE:GEV opened at $297.00 on Friday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $297.54. The firm has a fifty day moving average of $230.78 and a 200 day moving average of $187.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. As a group, equities analysts anticipate that GE Vernova Inc. will post 3.21 earnings per share 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.