abrdn plc Has $27.51 Million Position in GE Vernova Inc. (NYSE:GEV)

abrdn plc cut its position in GE Vernova Inc. (NYSE:GEV) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,789 shares of the company’s stock after selling 11,214 shares during the period. abrdn plc’s holdings in GE Vernova were worth $27,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aspire Private Capital LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $40,000. Legal & General Group Plc bought a new stake in GE Vernova in the 2nd quarter valued at approximately $293,699,000. Central Pacific Bank Trust Division lifted its stake in GE Vernova by 1,242.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after acquiring an additional 2,175 shares in the last quarter. Concourse Financial Group Securities Inc. increased its position in shares of GE Vernova by 75.6% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock worth $1,264,000 after purchasing an additional 2,134 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in GE Vernova in the 3rd quarter valued at $2,042,000.

GE Vernova Trading Up 1.4 %

GEV opened at $301.69 on Friday. The stock has a 50-day moving average price of $244.09 and a 200-day moving average price of $194.36. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $303.71.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GEV shares. Royal Bank of Canada upped their target price on GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets increased their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on 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 increased their price target on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their target price on GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. 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’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price 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.