The Manufacturers Life Insurance Company Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

The Manufacturers Life Insurance Company cut its stake in GE Vernova Inc. (NYSE:GEV) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,026 shares of the company’s stock after selling 5,736 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of GE Vernova worth $55,082,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its holdings in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $1,101,000. Atria Investments Inc grew its position in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Aspire Private Capital LLC acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $40,000. Finally, Fractal Investments LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $1,530,000.

GE Vernova Price Performance

Shares of GEV stock opened at $335.33 on Friday. The company’s fifty day simple moving average is $294.17 and its 200-day simple moving average is $219.39. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $357.09.

Analyst Ratings Changes

GEV has been the topic of several research reports. Guggenheim initiated coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. Jefferies Financial Group increased their price target on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research report on Friday, October 18th. William Blair initiated coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Bank of America raised their target price on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

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.