Chevy Chase Trust Holdings LLC Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

Chevy Chase Trust Holdings LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 149,335 shares of the company’s stock after selling 2,364 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in GE Vernova were worth $38,077,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. EverSource Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the first quarter worth $165,000. Massmutual Trust Co. FSB ADV purchased a new stake in GE Vernova during the 2nd quarter valued at about $171,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GE Vernova during the 2nd quarter valued at about $41,000. Trust Co. of Vermont acquired a new stake in GE Vernova in the 2nd quarter valued at about $243,000. Finally, Lynx Investment Advisory purchased a new position in GE Vernova in the 2nd quarter worth approximately $34,000.

GE Vernova Price Performance

Shares of GEV opened at $337.54 on Tuesday. The company’s 50-day simple moving average is $295.95 and its 200-day simple moving average is $221.35. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $357.09.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. William Blair started coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Truist Financial upped their target price on GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Guggenheim assumed coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target on the stock. Finally, Evercore ISI raised their price objective on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $274.16.

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.