Highland Capital Management LLC Lowers Position in GE Vernova Inc. (NYSE:GEV)

Highland Capital Management LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 33,143 shares of the company’s stock after selling 1,163 shares during the period. Highland Capital Management LLC’s holdings in GE Vernova were worth $8,451,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in GE Vernova in the second quarter worth $25,000. Trifecta Capital Advisors LLC bought a new position in shares of GE Vernova in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in GE Vernova during the 2nd quarter valued at about $25,000. Global Trust Asset Management LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $26,000. Finally, Timber Creek Capital Management LLC purchased a new stake in GE Vernova in the second quarter worth about $27,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEV. Evercore ISI boosted their price target on GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Royal Bank of Canada upped their price target on shares of GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday. HSBC restated a “hold” rating and set a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Redburn Atlantic initiated 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. Seven 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Price Performance

Shares of GEV stock opened at $293.50 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $298.81. The firm has a fifty day moving average price of $232.95 and a 200-day moving average price of $188.73.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. 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.