Terra Nova Asset Management LLC Decreases Stake in GE Vernova Inc. (NYSE:GEV)

by · The Cerbat Gem

Terra Nova Asset Management LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 80.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,861 shares of the company’s stock after selling 7,472 shares during the quarter. Terra Nova Asset Management LLC’s holdings in GE Vernova were worth $475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newport Trust Company LLC purchased a new position in GE Vernova during the second quarter valued at $650,140,000. Bank of New York Mellon Corp acquired a new position in GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova in the 1st quarter valued at about $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $293,699,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on GEV. Mizuho increased their price objective 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. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $240.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group raised their target price on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic began coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.78.

View Our Latest Stock Analysis on GEV

GE Vernova Trading Up 1.2 %

Shares of GEV traded up $3.10 during mid-day trading on Wednesday, reaching $269.46. 299,887 shares of the company’s stock traded hands, compared to its average volume of 3,619,389. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $270.87. The firm’s 50-day simple moving average is $218.99.

GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. As a group, analysts forecast that GE Vernova Inc. will post 3.21 EPS for the current year.

GE Vernova Company Profile

(Free Report)

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.

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