ING Groep NV Reduces Position in GE Vernova Inc. (NYSE:GEV)

ING Groep NV trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 86.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,763 shares of the company’s stock after selling 166,510 shares during the quarter. ING Groep NV’s holdings in GE Vernova were worth $6,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Waverton Investment Management Ltd boosted its stake in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the last quarter. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova during the 3rd quarter valued at about $1,101,000. Aspire Private Capital LLC purchased a new stake in shares of GE Vernova in the second quarter valued at about $40,000. Legal & General Group Plc purchased a new stake in shares of GE Vernova in the second quarter valued at about $293,699,000. Finally, Fractal Investments LLC acquired a new stake in GE Vernova during the third quarter worth about $1,530,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America increased their price objective on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Guggenheim began coverage on GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price on the stock. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley boosted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday. Seven equities 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.55.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $329.76 on Friday. The stock’s 50-day moving average is $270.87 and its two-hundred day moving average is $207.25. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $349.79.

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.