Principal Financial Group Inc. Raises Holdings in GE Vernova Inc. (NYSE:GEV)

Principal Financial Group Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 577,284 shares of the company’s stock after buying an additional 12,323 shares during the period. Principal Financial Group Inc.’s holdings in GE Vernova were worth $147,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova during the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. acquired a new position in shares of GE Vernova during the 2nd quarter worth about $25,000. Global Trust Asset Management LLC purchased a new position in GE Vernova in the 2nd quarter valued at about $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in GE Vernova in the 2nd quarter worth about $27,000.

GE Vernova Stock Up 0.1 %

NYSE GEV opened at $336.78 on Friday. The firm’s 50-day moving average is $254.36 and its two-hundred day moving average is $199.77. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $340.41.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GEV shares. BMO Capital Markets raised their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Mizuho lifted their target price 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. Evercore ISI increased their target price on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America increased their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.