Wesbanco Bank Inc. Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Wesbanco Bank Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,736 shares of the company’s stock after purchasing an additional 802 shares during the period. Wesbanco Bank Inc.’s holdings in GE Vernova were worth $3,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Miracle Mile Advisors LLC lifted its stake in GE Vernova by 1.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock valued at $706,000 after buying an additional 48 shares in the last quarter. Merrion Investment Management Co LLC raised its holdings in shares of GE Vernova by 0.8% during the third quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock valued at $1,594,000 after acquiring an additional 50 shares during the last quarter. Parisi Gray Wealth Management lifted its position in shares of GE Vernova by 3.5% in the third quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock valued at $380,000 after acquiring an additional 51 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of GE Vernova by 1.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after acquiring an additional 61 shares in the last quarter. Finally, Stonehearth Capital Management LLC boosted its stake in shares of GE Vernova by 6.1% in the third quarter. Stonehearth Capital Management LLC now owns 1,474 shares of the company’s stock worth $376,000 after acquiring an additional 85 shares during the last quarter.

GE Vernova Trading Down 1.2 %

GE Vernova stock opened at $266.36 on Wednesday. The company has a 50 day moving average of $218.99. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $270.87.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, research analysts forecast that GE Vernova Inc. will post 3.21 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on GEV shares. Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $300.00 in a research note on Tuesday, September 17th. Truist Financial assumed coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Redburn Atlantic began coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target on the stock. William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Morgan Stanley raised their target price on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.78.

About GE Vernova

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.