Park Edge Advisors LLC Decreases Stake in GE Vernova Inc. (NYSE:GEV)

Park Edge Advisors LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 2.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,859 shares of the company’s stock after selling 41 shares during the period. Park Edge Advisors LLC’s holdings in GE Vernova were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Maryland State Retirement & Pension System purchased a new stake in shares of GE Vernova during the 1st quarter valued at about $2,892,000. Boit C F David purchased a new stake in shares of GE Vernova during the first quarter valued at approximately $149,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of GE Vernova during the first quarter worth $30,000. Nwam LLC purchased a new position in shares of GE Vernova in the first quarter valued at $1,531,000. Finally, LRI Investments LLC acquired a new stake in GE Vernova during the 1st quarter valued at $63,000.

GE Vernova Price Performance

NYSE GEV traded down $3.46 during trading on Friday, hitting $293.54. 2,087,779 shares of the company traded hands, compared to its average volume of 2,307,115. The business has a fifty day simple moving average of $235.14 and a 200 day simple moving average of $190.27. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $298.81.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating 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. On average, analysts anticipate that GE Vernova Inc. will post 2.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Royal Bank of Canada raised 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. Guggenheim began coverage on GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price on the stock. BMO Capital Markets raised their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Bank of America lifted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.