Ritholtz Wealth Management Sells 62 Shares of GE Vernova Inc. (NYSE:GEV)

Ritholtz Wealth Management trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.6% during the third quarter, HoldingsChannel reports. The fund owned 3,886 shares of the company’s stock after selling 62 shares during the quarter. Ritholtz Wealth Management’s holdings in GE Vernova were worth $991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aspire Private Capital LLC acquired a new position in GE Vernova during the 2nd quarter worth about $40,000. Legal & General Group Plc bought a new position in shares of GE Vernova during the second quarter worth about $293,699,000. Central Pacific Bank Trust Division lifted its stake in shares of GE Vernova by 1,242.9% in the third quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock worth $599,000 after acquiring an additional 2,175 shares during the period. Park Avenue Securities LLC bought a new stake in GE Vernova in the third quarter valued at approximately $2,042,000. Finally, Czech National Bank increased its position in GE Vernova by 7.2% during the 3rd quarter. Czech National Bank now owns 55,980 shares of the company’s stock valued at $14,274,000 after purchasing an additional 3,751 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $269.54 on Tuesday. The firm’s 50 day moving average is $216.95. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $270.83.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that GE Vernova Inc. will post 3.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group boosted their price objective on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Truist Financial started coverage on GE Vernova in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Guggenheim assumed coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective 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. 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 stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $243.78.

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.