GE Vernova Inc. (NYSE:GEV) Shares Sold by WT Asset Management Ltd

WT Asset Management Ltd reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,000 shares of the company’s stock after selling 15,700 shares during the period. GE Vernova accounts for 8.2% of WT Asset Management Ltd’s investment portfolio, making the stock its 6th biggest holding. WT Asset Management Ltd owned 0.06% of GE Vernova worth $41,817,000 as of its most recent filing with the Securities & Exchange Commission.

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

GE Vernova Stock Up 1.9 %

GE Vernova stock traded up $5.71 during midday trading on Friday, reaching $307.37. The stock had a trading volume of 1,077,620 shares, compared to its average volume of 3,541,133. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $311.58. The firm’s fifty day simple moving average is $244.09 and its 200-day simple moving average is $194.36.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GEV. Evercore ISI increased their price objective on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho lifted their price objective on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Truist Financial lifted their price target on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America upped their price objective 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, Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average 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.