Hedges Asset Management LLC Has $1.91 Million Stake in GE Vernova Inc. (NYSE:GEV)

Hedges Asset Management LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 21.6% in the third quarter, HoldingsChannel.com reports. The fund owned 7,475 shares of the company’s stock after selling 2,055 shares during the quarter. GE Vernova accounts for 1.3% of Hedges Asset Management LLC’s holdings, making the stock its 26th biggest position. Hedges Asset Management LLC’s holdings in GE Vernova were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Aspire Private Capital LLC bought a new stake in GE Vernova in the second quarter valued at $40,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $293,699,000. Central Pacific Bank Trust Division increased its position in GE Vernova by 1,242.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after buying an additional 2,175 shares in the last quarter. Concourse Financial Group Securities Inc. raised its stake in GE Vernova by 75.6% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock worth $1,264,000 after buying an additional 2,134 shares during the period. Finally, Park Avenue Securities LLC bought a new position in GE Vernova in the third quarter worth approximately $2,042,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on GEV. Evercore ISI upped their target price on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Mizuho lifted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. HSBC reiterated a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Price Performance

Shares of GEV stock opened at $293.54 on Monday. The company’s fifty day simple moving average is $235.14 and its two-hundred day simple moving average is $190.64. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $298.81.

GE Vernova 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.