Cornerstone Wealth Group LLC Takes $305,000 Position in GE Vernova Inc. (NYSE:GEV)

Cornerstone Wealth Group LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,195 shares of the company’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the second quarter valued at about $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in GE Vernova during the 1st quarter worth approximately $367,474,000. Marshall Wace LLP purchased a new position in shares of GE Vernova during the 2nd quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova during the second quarter worth approximately $293,699,000.

GE Vernova Stock Performance

GEV opened at $301.69 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $303.71. The stock’s 50 day moving average price is $244.09 and its 200 day moving average price is $194.36.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GEV shares. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Guggenheim assumed coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price on the stock. Finally, Mizuho lifted their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

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.