Glenmede Trust Co. NA Trims Stake in GE Vernova Inc. (NYSE:GEV)

Glenmede Trust Co. NA cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 26.4% in the third quarter, HoldingsChannel.com reports. The firm owned 35,961 shares of the company’s stock after selling 12,928 shares during the quarter. Glenmede Trust Co. NA’s holdings in GE Vernova were worth $9,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Soros Capital Management LLC purchased a new position in GE Vernova during the third quarter worth about $13,896,000. Cynosure Group LLC lifted its holdings in shares of GE Vernova by 46.0% in the 3rd quarter. Cynosure Group LLC now owns 17,811 shares of the company’s stock worth $4,541,000 after acquiring an additional 5,613 shares during the last quarter. Townsquare Capital LLC increased its holdings in GE Vernova by 16.0% in the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the company’s stock valued at $1,179,000 after purchasing an additional 638 shares during the last quarter. NCP Inc. raised its position in GE Vernova by 74.2% in the third quarter. NCP Inc. now owns 1,096 shares of the company’s stock valued at $279,000 after purchasing an additional 467 shares during the period. Finally, BNP Paribas Financial Markets raised its position in GE Vernova by 6.0% in the third quarter. BNP Paribas Financial Markets now owns 405,705 shares of the company’s stock valued at $103,447,000 after purchasing an additional 22,793 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GEV shares. Oppenheimer assumed coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Truist Financial boosted their price target on shares of GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. William Blair assumed coverage on shares of GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. HSBC reaffirmed a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Jefferies Financial Group raised their price target on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $274.16.

GE Vernova Price Performance

Shares of GEV opened at $334.29 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $357.09. The firm has a fifty day moving average price of $295.95 and a 200 day moving average price of $220.59.

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.