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

Griffin Asset Management Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 96.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,065 shares of the company’s stock after purchasing an additional 4,940 shares during the quarter. Griffin Asset Management Inc.’s holdings in GE Vernova were worth $2,566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Petredis Investment Advisors LLC raised its position in GE Vernova by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 13,412 shares of the company’s stock valued at $3,420,000 after purchasing an additional 53 shares during the period. Magnus Financial Group LLC acquired a new stake in shares of GE Vernova in the third quarter valued at $203,000. Creative Planning grew its stake in shares of GE Vernova by 11.4% in the third quarter. Creative Planning now owns 52,641 shares of the company’s stock valued at $13,422,000 after buying an additional 5,382 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of GE Vernova by 5.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock valued at $3,757,000 after buying an additional 802 shares during the period. Finally, Sapient Capital LLC purchased a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $5,818,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GEV shares. Daiwa Capital Markets began coverage on shares of GE Vernova in a research report on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective for the company. Royal Bank of Canada upped their price objective on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Redburn Atlantic assumed coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Morgan Stanley upped their price target on shares of GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, The Goldman Sachs Group increased their price target on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Seven equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.78.

GE Vernova Stock Performance

NYSE:GEV opened at $266.36 on Wednesday. The stock’s fifty day moving average is $218.99. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $270.87.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities research analysts expect that GE Vernova Inc. will post 3.21 earnings per share for the current fiscal year.

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.