Indiana Trust & Investment Management Co Lowers Stake in GE Vernova Inc. (NYSE:GEV)

Indiana Trust & Investment Management Co trimmed its position in GE Vernova Inc. (NYSE:GEV) by 15.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257 shares of the company’s stock after selling 47 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in GE Vernova were worth $66,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GEV. Aspire Private Capital LLC purchased a new position in GE Vernova in the second quarter valued at approximately $40,000. Legal & General Group Plc acquired a new position in shares of GE Vernova during the 2nd quarter valued at $293,699,000. Central Pacific Bank Trust Division lifted its holdings in shares of GE Vernova by 1,242.9% during 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. Park Avenue Securities LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $2,042,000. Finally, Czech National Bank raised its position in GE Vernova by 7.2% in the third quarter. Czech National Bank now owns 55,980 shares of the company’s stock valued at $14,274,000 after purchasing an additional 3,751 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial began coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $240.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted 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. Mizuho lifted their price target on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Daiwa Capital Markets assumed coverage on shares of GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $243.78.

GE Vernova Trading Up 3.2 %

GEV stock opened at $274.77 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $276.19. The firm has a fifty day moving average price of $221.17 and a two-hundred day moving average price of $183.61.

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

About GE Vernova

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.