Investment Research & Advisory Group Inc. Sells 825 Shares of GE Vernova Inc. (NYSE:GEV)

Investment Research & Advisory Group Inc. lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 23.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,769 shares of the company’s stock after selling 825 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in GE Vernova were worth $706,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GEV shares. JPMorgan Chase & Co. lifted their target price on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday. They issued a “buy” rating and a $354.00 price objective for the company. Jefferies Financial Group increased their target price on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets increased their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seven investment 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. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Trading Up 6.1 %

Shares of GEV stock opened at $297.00 on Friday. The firm has a 50-day moving average of $230.78 and a 200-day moving average of $187.97. GE Vernova Inc. has a one year low of $115.00 and a one year high of $297.54.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating 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. On average, sell-side analysts forecast that GE Vernova Inc. will post 3.21 EPS for the current 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.