Segment Wealth Management LLC Raises Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Segment Wealth Management LLC raised its position in GE Vernova Inc. (NYSE:GEV) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,542 shares of the company’s stock after buying an additional 1,726 shares during the quarter. GE Vernova makes up approximately 1.3% of Segment Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Segment Wealth Management LLC’s holdings in GE Vernova were worth $18,497,000 at the end of the most recent quarter.

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

GE Vernova Stock Down 0.0 %

GEV opened at $276.37 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $281.37. The business’s fifty day simple moving average is $228.87 and its 200 day simple moving average is $187.33.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GEV shares. Truist Financial started coverage on GE Vernova in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Morgan Stanley increased their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group increased their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $240.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $251.83.

GE Vernova Company 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.