Assenagon Asset Management S.A. Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

Assenagon Asset Management S.A. lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 87.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,680 shares of the company’s stock after selling 1,107,870 shares during the period. Assenagon Asset Management S.A.’s holdings in GE Vernova were worth $40,970,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Bank of America upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. HSBC reissued a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Performance

Shares of GEV opened at $297.00 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $297.54. The stock’s 50-day moving average is $230.78 and its two-hundred day moving average is $187.97.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities analysts forecast 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.