Gateway Investment Advisers LLC Sells 2,052 Shares of GE Vernova Inc. (NYSE:GEV)

Gateway Investment Advisers LLC trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,514 shares of the company’s stock after selling 2,052 shares during the period. Gateway Investment Advisers LLC’s holdings in GE Vernova were worth $3,956,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Newport Trust Company LLC purchased a new position in GE Vernova during the second quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova during the 2nd quarter worth about $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova during the 1st quarter valued at about $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova in the 2nd quarter worth about $399,770,000. Finally, Legal & General Group Plc bought a new stake in GE Vernova in the second quarter worth about $293,699,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. HSBC reaffirmed a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Redburn Atlantic initiated coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price for the company. Guggenheim assumed coverage on shares of GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. Mizuho boosted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.63.

GE Vernova Stock Up 0.9 %

Shares of GEV opened at $266.89 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $270.11. The firm’s fifty day simple moving average is $214.80.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Analysts forecast that GE Vernova Inc. will post 3.21 earnings per share for the current year.

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.