Smithfield Trust Co Buys 1,727 Shares of GE Vernova Inc. (NYSE:GEV)

Smithfield Trust Co boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 44.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,600 shares of the company’s stock after buying an additional 1,727 shares during the quarter. Smithfield Trust Co’s holdings in GE Vernova were worth $1,431,000 as of its most recent SEC filing.

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

GE Vernova Price Performance

Shares of NYSE:GEV opened at $342.77 on Thursday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $349.79. The business has a 50-day simple moving average of $281.39 and a two-hundred day simple moving average of $212.57.

Analyst Upgrades and Downgrades

Several research firms have commented on GEV. William Blair began coverage on shares of GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. 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, October 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $270.02.

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.