Mountaineer Partners Management LLC Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 9,833,303 shares of the company’s stock, valued at approximately $2,507,296,000. GE Vernova makes up approximately 20.9% of Mountaineer Partners Management LLC’s holdings, making the stock its largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Castleview Partners LLC bought a new position in GE Vernova in the third quarter valued at about $28,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $31,000. Planning Capital Management Corp grew its position in shares of GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares during the period. Finally, Deseret Mutual Benefit Administrators bought a new stake in shares of GE Vernova during the second quarter worth approximately $25,000.

GE Vernova Stock Down 1.7 %

Shares of GE Vernova stock opened at $331.92 on Wednesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $357.09. The business has a fifty day simple moving average of $299.20 and a two-hundred day simple moving average of $223.75.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Jefferies Financial Group raised their price target on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. BMO Capital Markets raised their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Evercore ISI upped their target price on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $275.34.

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.