Grimes & Company Inc. Increases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Grimes & Company Inc. raised its stake in GE Vernova Inc. (NYSE:GEV) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,825 shares of the company’s stock after purchasing an additional 285 shares during the period. Grimes & Company Inc.’s holdings in GE Vernova were worth $975,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Newport Trust Company LLC purchased a new position in GE Vernova in the second quarter valued at approximately $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $367,474,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $293,699,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America increased their price objective on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley increased their price objective on GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a report on Thursday. William Blair initiated coverage on GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Royal Bank of Canada increased their price target on GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Price Performance

GE Vernova 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 business has a fifty day moving average of $230.78 and a two-hundred day moving average of $187.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, analysts expect that GE Vernova Inc. will post 3.21 earnings per share for the current fiscal year.

GE Vernova Company 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.