Independent Investors Inc. Invests $262,000 in GE Vernova Inc. (NYSE:GEV)

Independent Investors Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,027 shares of the company’s stock, valued at approximately $262,000.

Several other institutional investors have also added to or reduced their stakes in the company. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova during the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in shares of GE Vernova in the first quarter valued at about $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova in the second quarter worth about $399,770,000. Finally, Legal & General Group Plc bought a new position in GE Vernova during the 2nd quarter worth about $293,699,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday. William Blair assumed coverage on GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Mizuho boosted their price target on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer began coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada boosted their target price on shares of GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Price Performance

NYSE GEV traded down $4.11 during trading hours on Monday, reaching $289.43. The stock had a trading volume of 984,330 shares, compared to its average volume of 3,576,089. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $298.81. The stock has a fifty day moving average of $235.14 and a 200 day moving average of $190.64.

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.