Inlet Private Wealth LLC Reduces Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Inlet Private Wealth LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,317 shares of the company’s stock after selling 65 shares during the quarter. Inlet Private Wealth LLC’s holdings in GE Vernova were worth $591,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Global Retirement Partners LLC boosted its stake in GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after acquiring an additional 40 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in shares of GE Vernova by 1.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock valued at $706,000 after purchasing an additional 48 shares during the period. Merrion Investment Management Co LLC grew its stake in GE Vernova by 0.8% during the 3rd quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock worth $1,594,000 after buying an additional 50 shares during the last quarter. Parisi Gray Wealth Management grew its stake in GE Vernova by 3.5% during the 3rd quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock worth $380,000 after buying an additional 51 shares during the last quarter. Finally, Petredis Investment Advisors LLC increased its position in GE Vernova by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 13,412 shares of the company’s stock worth $3,420,000 after buying an additional 53 shares during the period.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $240.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley upped their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Truist Financial assumed coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective for the company. Finally, Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

GE Vernova Price Performance

GEV stock traded down $0.08 during trading on Thursday, reaching $274.69. 1,181,523 shares of the stock traded hands, compared to its average volume of 3,613,057. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $281.14. The business’s 50 day moving average price is $221.17 and its 200-day moving average price is $183.61.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. As a group, research analysts predict that GE Vernova Inc. will post 3.21 EPS for the current year.

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.