GE Vernova Inc. (NYSE:GEV) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. increased its stake in GE Vernova Inc. (NYSE:GEV) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,736 shares of the company’s stock after acquiring an additional 802 shares during the period. Wesbanco Bank Inc.’s holdings in GE Vernova were worth $3,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova during the second quarter worth about $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $25,000. Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $26,000. Finally, Gradient Investments LLC acquired a new position in shares of GE Vernova during the second quarter worth $27,000.

GE Vernova Stock Performance

GE Vernova stock opened at $266.36 on Wednesday. The business’s 50-day moving average price is $218.99. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $270.87.

GE Vernova (NYSE:GEV) last announced its earnings results 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 analyst estimates of $8.42 billion. As a group, equities research analysts expect that GE Vernova Inc. will post 3.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEV. Truist Financial assumed coverage on GE Vernova in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective for the company. BMO Capital Markets raised their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday. Daiwa Capital Markets began coverage on shares of GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price for the company. William Blair began coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, HSBC reissued a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.78.

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.