Fiduciary Trust Co Acquires 29,155 Shares of GE Vernova Inc. (NYSE:GEV)

Fiduciary Trust Co grew its holdings in GE Vernova Inc. (NYSE:GEV) by 322.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,202 shares of the company’s stock after buying an additional 29,155 shares during the period. Fiduciary Trust Co’s holdings in GE Vernova were worth $9,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newport Trust Company LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $650,140,000. Bank of New York Mellon Corp bought a new position in shares of GE Vernova in the second quarter valued at about $537,674,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $399,770,000. Legal & General Group Plc bought a new stake in shares of GE Vernova during the 2nd quarter worth about $293,699,000. Finally, Electron Capital Partners LLC grew its stake in GE Vernova by 1,641.3% in the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $335.35 on Thursday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $357.09. The stock has a 50-day moving average of $292.35 and a 200-day moving average of $218.58.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group upped their price target on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. William Blair started coverage on GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Royal Bank of Canada upped their price target on shares of GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a report on Monday. Finally, HSBC reiterated a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $274.16.

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.