First Citizens Bank & Trust Co. Has $740,000 Stake in GE Vernova Inc. (NYSE:GEV)

First Citizens Bank & Trust Co. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,903 shares of the company’s stock after selling 87 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in GE Vernova were worth $740,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova during the second quarter valued at approximately $25,000. Global Trust Asset Management LLC acquired a new position in GE Vernova during the second quarter valued at approximately $26,000. Finally, Gradient Investments LLC acquired a new position in GE Vernova during the second quarter valued at approximately $27,000.

GE Vernova Price Performance

Shares of GEV stock opened at $272.72 on Monday. The company’s fifty day simple moving average is $224.93 and its 200-day simple moving average is $185.19. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $281.37.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $8.42 billion. As a group, sell-side analysts forecast that GE Vernova Inc. will post 3.21 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEV. Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays lifted their price target on shares of GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $262.00 price target on shares of GE Vernova in a research note on Friday. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.73.

GE Vernova Company 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.