Moors & Cabot Inc. Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

Moors & Cabot Inc. cut its position in GE Vernova Inc. (NYSE:GEV) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,431 shares of the company’s stock after selling 647 shares during the quarter. Moors & Cabot Inc.’s holdings in GE Vernova were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GEV shares. William Blair began coverage on GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Royal Bank of Canada raised their target price on shares of GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer assumed coverage on GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company assumed coverage on GE Vernova in a research note on Thursday. They issued an “overweight” rating and a $385.00 target price for the company. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.02.

GE Vernova Stock Down 0.5 %

GE Vernova stock opened at $340.90 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $357.09. The company has a fifty day simple moving average of $283.91 and a 200 day simple moving average of $213.46.

GE Vernova 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.