Ballentine Partners LLC Raises Position in GE Vernova Inc. (NYSE:GEV)

Ballentine Partners LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 21.6% in the third quarter, HoldingsChannel reports. The fund owned 4,938 shares of the company’s stock after purchasing an additional 877 shares during the quarter. Ballentine Partners LLC’s holdings in GE Vernova were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GE Vernova Stock Performance

GE Vernova stock opened at $293.50 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $298.81. The firm has a 50-day moving average price of $232.95 and a 200-day moving average price of $188.73.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 the consensus estimate of $8.42 billion. As a group, analysts predict that GE Vernova Inc. will post 3.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEV. Redburn Atlantic began coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target on the stock. Royal Bank of Canada upped their target price on shares of GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Bank of America upped their price objective on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial lifted their price target on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.40.

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.