Bridgewater Associates LP Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

Bridgewater Associates LP decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 52.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,036 shares of the company’s stock after selling 38,302 shares during the quarter. Bridgewater Associates LP’s holdings in GE Vernova were worth $8,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Soros Capital Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at $13,896,000. Cynosure Group LLC raised its holdings in GE Vernova by 46.0% during the third quarter. Cynosure Group LLC now owns 17,811 shares of the company’s stock valued at $4,541,000 after acquiring an additional 5,613 shares during the period. Townsquare Capital LLC boosted its stake in shares of GE Vernova by 16.0% in the third quarter. Townsquare Capital LLC now owns 4,622 shares of the company’s stock worth $1,179,000 after acquiring an additional 638 shares during the period. NCP Inc. boosted its stake in shares of GE Vernova by 74.2% in the third quarter. NCP Inc. now owns 1,096 shares of the company’s stock worth $279,000 after acquiring an additional 467 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of GE Vernova by 6.0% during the third quarter. BNP Paribas Financial Markets now owns 405,705 shares of the company’s stock worth $103,447,000 after purchasing an additional 22,793 shares in the last quarter.

GE Vernova Stock Down 1.1 %

GEV stock opened at $335.33 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $357.09. The firm’s 50-day moving average is $294.17 and its 200 day moving average is $219.39.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI increased their price objective on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their target price on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. HSBC reissued a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, BMO Capital Markets lifted their price objective on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $274.16.

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.