King Wealth Management Group Invests $230,000 in GE Vernova Inc. (NYSE:GEV)

King Wealth Management Group purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 902 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the third quarter valued at approximately $28,000. Covestor Ltd grew its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Planning Capital Management Corp increased its position in shares of GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after purchasing an additional 130 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova in the 2nd quarter worth about $25,000. Finally, Trifecta Capital Advisors LLC bought a new position in GE Vernova during the second quarter valued at about $25,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GEV. Guggenheim assumed coverage on shares of GE Vernova in a research note on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. William Blair initiated coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Truist Financial lifted their target price on GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Performance

NYSE GEV opened at $326.04 on Friday. The stock’s 50 day moving average is $268.31 and its 200 day moving average is $206.42. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $349.79.

About GE Vernova

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.