Terra Nova Asset Management LLC Sells 7,472 Shares of GE Vernova Inc. (NYSE:GEV)

Terra Nova Asset Management LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 80.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,861 shares of the company’s stock after selling 7,472 shares during the period. Terra Nova Asset Management LLC’s holdings in GE Vernova were worth $475,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators bought a new position in GE Vernova during the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the 2nd quarter valued at about $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova during the 2nd quarter valued at about $26,000. Finally, Gradient Investments LLC bought a new position in GE Vernova during the 2nd quarter valued at about $27,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Oppenheimer assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. HSBC restated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group upped their target price on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.78.

GE Vernova Stock Up 1.2 %

NYSE:GEV traded up $3.10 during midday trading on Wednesday, reaching $269.46. 299,887 shares of the stock traded hands, compared to its average volume of 3,619,389. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $270.87. The firm has a 50-day moving average price of $218.99.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. As a group, 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.