Arosa Capital Management LP Sells 16,300 Shares of GE Vernova Inc. (NYSE:GEV)

Arosa Capital Management LP reduced its stake in GE Vernova Inc. (NYSE:GEV) by 17.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 79,100 shares of the company’s stock after selling 16,300 shares during the period. GE Vernova accounts for 7.8% of Arosa Capital Management LP’s portfolio, making the stock its 2nd biggest position. Arosa Capital Management LP’s holdings in GE Vernova were worth $20,169,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Newport Trust Company LLC purchased a new position in GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $537,674,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova in the second quarter valued at approximately $399,770,000. Legal & General Group Plc acquired a new position in GE Vernova during the second quarter worth $293,699,000. Finally, Electron Capital Partners LLC raised its position in GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after acquiring an additional 1,596,996 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $334.12 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09. The firm has a fifty day simple moving average of $295.95 and a 200-day simple moving average of $221.35.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial raised their price objective on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Guggenheim assumed coverage on GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets raised their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada upped their price target on shares of GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

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.