General American Investors Co. Inc. Buys 55,000 Shares of GE Vernova Inc. (NYSE:GEV)

General American Investors Co. Inc. increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 100.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 110,000 shares of the company’s stock after purchasing an additional 55,000 shares during the period. GE Vernova makes up about 1.9% of General American Investors Co. Inc.’s portfolio, making the stock its 14th biggest holding. General American Investors Co. Inc.’s holdings in GE Vernova were worth $28,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Hanlon Investment Management Inc. purchased a new stake in GE Vernova during the third quarter valued at $1,101,000. Aspire Private Capital LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $40,000. Legal & General Group Plc acquired a new stake in GE Vernova in the 2nd quarter worth about $293,699,000. Fractal Investments LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at about $1,530,000. Finally, Central Pacific Bank Trust Division grew its stake in shares of GE Vernova by 1,242.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock worth $599,000 after purchasing an additional 2,175 shares during the last quarter.

GE Vernova Trading Down 0.4 %

Shares of NYSE GEV traded down $1.29 during midday trading on Thursday, hitting $335.01. The company’s stock had a trading volume of 172,696 shares, compared to its average volume of 3,526,075. The business’s fifty day simple moving average is $254.36 and its two-hundred day simple moving average is $199.77. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $339.00.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEV. JPMorgan Chase & Co. raised their target price on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley upped their price objective on shares of GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price objective on GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. HSBC restated a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Finally, Oppenheimer assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.40.

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.