E. Ohman J or Asset Management AB Trims Stock Holdings in GE Vernova Inc. (NYSE:GEV)

E. Ohman J or Asset Management AB trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,000 shares of the company’s stock after selling 800 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in GE Vernova were worth $2,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Newport Trust Company LLC purchased a new position in GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova during the 2nd quarter worth $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova during the 1st quarter worth $367,474,000. Marshall Wace LLP purchased a new position in GE Vernova during the 2nd quarter worth $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter worth $293,699,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GEV shares. William Blair started coverage on GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Bank of America lifted their price target on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group lifted their price target on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Finally, Evercore ISI lifted their price target on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday. Seven 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Price Performance

Shares of GEV stock opened at $293.50 on Friday. The business has a 50-day simple moving average of $232.95 and a 200-day simple moving average of $188.73. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $298.81.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. As a group, sell-side analysts expect that GE Vernova Inc. will post 3.21 EPS for the current year.

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.