Kessler Investment Group LLC Lowers Stake in GE Vernova Inc. (NYSE:GEV)

Kessler Investment Group LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,421 shares of the company’s stock after selling 3,303 shares during the period. GE Vernova comprises 3.9% of Kessler Investment Group LLC’s portfolio, making the stock its 5th largest holding. Kessler Investment Group LLC’s holdings in GE Vernova were worth $7,502,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Roof Eidam Maycock Peralta LLC bought a new position in shares of GE Vernova in the third quarter worth about $238,000. Plimoth Trust Co. LLC grew its stake in shares of GE Vernova by 1.4% during the 3rd quarter. Plimoth Trust Co. LLC now owns 3,279 shares of the company’s stock valued at $836,000 after acquiring an additional 44 shares during the period. Whittier Trust Co. increased its holdings in GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares in the last quarter. Prentiss Smith & Co. Inc. bought a new stake in GE Vernova during the 3rd quarter worth approximately $213,000. Finally, Castleview Partners LLC purchased a new position in GE Vernova during the third quarter valued at approximately $28,000.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their price target on GE Vernova from $240.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research report on Monday. They issued a “buy” rating and a $354.00 price objective on the stock. Morgan Stanley increased their target price on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Barclays lifted their target price on GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $251.83.

GE Vernova Price Performance

Shares of GE Vernova stock traded down $0.67 on Tuesday, reaching $275.76. The company had a trading volume of 432,517 shares, compared to its average volume of 3,584,204. The firm’s 50-day moving average price is $226.93 and its two-hundred day moving average price is $186.25. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $281.37.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 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 analysts’ expectations of $8.42 billion. Equities analysts expect 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.