SG Americas Securities LLC Cuts Holdings in GE Vernova Inc. (NYSE:GEV)

SG Americas Securities LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,389 shares of the company’s stock after selling 4,079 shares during the period. SG Americas Securities LLC’s holdings in GE Vernova were worth $8,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Jefferies Financial Group upped their target price on shares of GE Vernova from $261.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Evercore ISI raised their price target on GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.98.

GE Vernova Price Performance

NYSE GEV opened at $265.59 on Friday. The company’s 50 day moving average price is $205.35. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $266.42.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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, research analysts forecast that GE Vernova Inc. will post 2.83 EPS for the current fiscal 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.