GE Vernova Inc. (NYSE:GEV) Stake Lessened by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 44.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,200 shares of the company’s stock after selling 20,500 shares during the quarter. GE Vernova accounts for about 1.9% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 20th largest position. BOCHK Asset Management Ltd’s holdings in GE Vernova were worth $6,425,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research firms recently commented on GEV. Redburn Atlantic initiated coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective for the company. Evercore ISI raised 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. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday. They set a “buy” rating and a $354.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays upped their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday. Seven research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.21.

GE Vernova Price Performance

NYSE GEV traded up $14.96 during trading on Thursday, hitting $294.84. 2,227,676 shares of the company’s stock traded hands, compared to its average volume of 3,594,262. The business has a 50 day moving average of $230.78 and a 200-day moving average of $187.97. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $296.69.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Research analysts predict that GE Vernova Inc. will post 3.21 earnings per share for the current year.

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.