GE Vernova Inc. (NYSE:GEV) Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,012 shares of the company’s stock after acquiring an additional 3,153 shares during the quarter. CIBC Asset Management Inc’s holdings in GE Vernova were worth $10,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Waverton Investment Management Ltd raised its holdings in shares of GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova during the third quarter worth $1,101,000. Aspire Private Capital LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth about $40,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova in the 2nd quarter worth about $293,699,000. Finally, Fractal Investments LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth about $1,530,000.

GE Vernova Price Performance

NYSE GEV opened at $329.76 on Friday. The company has a 50 day simple moving average of $273.49 and a 200-day simple moving average of $208.82. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $349.79.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEV. Morgan Stanley increased their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Guggenheim assumed coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price for the company. Mizuho increased their target price on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their target price 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. Seven 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. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $264.55.

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.