Bangor Savings Bank Buys 118 Shares of GE Vernova Inc. (NYSE:GEV)

Bangor Savings Bank increased its position in GE Vernova Inc. (NYSE:GEV) by 22.5% during the 3rd quarter, Holdings Channel reports. The firm owned 643 shares of the company’s stock after acquiring an additional 118 shares during the quarter. Bangor Savings Bank’s holdings in GE Vernova were worth $164,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Newport Trust Company LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova in the second quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in GE Vernova in the first quarter worth about $367,474,000. Marshall Wace LLP bought a new position in GE Vernova during the 2nd quarter worth about $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter valued at about $293,699,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GEV. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $300.00 in a research report on Tuesday, September 17th. HSBC reaffirmed 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. Truist Financial assumed coverage on GE Vernova in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Mizuho raised their price objective on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Oppenheimer assumed coverage on shares of GE Vernova in a report 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, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.98.

GE Vernova Stock Up 0.7 %

Shares of GEV opened at $264.27 on Wednesday. The stock’s 50-day moving average price is $207.15. GE Vernova Inc. has a one year low of $115.00 and a one year high of $266.56.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, equities research analysts expect that GE Vernova Inc. will post 2.83 earnings per share for the current year.

About GE Vernova

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.