IFM Investors Pty Ltd Lowers Position in GE Vernova Inc. (NYSE:GEV)

IFM Investors Pty Ltd trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,034 shares of the company’s stock after selling 1,460 shares during the period. IFM Investors Pty Ltd’s holdings in GE Vernova were worth $13,268,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on GEV shares. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley lifted their target price on GE Vernova from $256.00 to $301.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer initiated coverage on GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating on the stock. William Blair initiated coverage on shares of GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Finally, Redburn Atlantic started coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Price Performance

GEV stock opened at $297.00 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $297.54. The firm has a 50-day simple moving average of $230.78 and a two-hundred day simple moving average of $187.97.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts expect that GE Vernova Inc. will post 3.21 earnings per share for the current year.

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.