Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stake in GE Vernova Inc. (NYSE:GEV)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,614 shares of the company’s stock after selling 98 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Vernova were worth $667,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Aspire Private Capital LLC bought a new position in shares of GE Vernova during the second quarter valued at about $40,000. Legal & General Group Plc bought a new stake in shares of GE Vernova in the second quarter worth approximately $293,699,000. Central Pacific Bank Trust Division lifted its holdings in shares of GE Vernova by 1,242.9% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after buying an additional 2,175 shares during the period. Concourse Financial Group Securities Inc. raised its position in GE Vernova by 75.6% in the third quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock worth $1,264,000 after acquiring an additional 2,134 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in GE Vernova during the third quarter valued at about $2,042,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GEV shares. Morgan Stanley raised their price target on GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Mizuho increased their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Truist Financial increased their price objective 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Stock Performance

NYSE:GEV opened at $297.60 on Thursday. The stock’s 50-day moving average price is $241.78 and its 200-day moving average price is $193.61. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $301.53.

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.