Vinva Investment Management Ltd Increases Position in GE Vernova Inc. (NYSE:GEV)

Vinva Investment Management Ltd increased its stake in GE Vernova Inc. (NYSE:GEV) by 91.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,378 shares of the company’s stock after acquiring an additional 6,389 shares during the period. Vinva Investment Management Ltd’s holdings in GE Vernova were worth $3,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Newport Trust Company LLC purchased a new position in GE Vernova in the second quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova during the second quarter valued at about $537,674,000. Marshall Wace LLP purchased a new stake in GE Vernova during the second quarter valued at about $399,770,000. Legal & General Group Plc purchased a new stake in GE Vernova during the second quarter valued at about $293,699,000. Finally, Electron Capital Partners LLC boosted its position in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the period.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Guggenheim initiated 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 for the company. BMO Capital Markets upped their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Evercore ISI upped their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. 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 report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

GE Vernova Price Performance

GEV stock opened at $335.33 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $357.09. The firm has a 50-day moving average of $294.17 and a 200 day moving average of $219.39.

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.