Cynosure Group LLC Purchases 5,613 Shares of GE Vernova Inc. (NYSE:GEV)

Cynosure Group LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 46.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,811 shares of the company’s stock after purchasing an additional 5,613 shares during the quarter. GE Vernova accounts for 0.7% of Cynosure Group LLC’s portfolio, making the stock its 27th largest position. Cynosure Group LLC’s holdings in GE Vernova were worth $4,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. Newport Trust Company LLC bought a new position in GE Vernova in the second quarter valued at approximately $650,140,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova in the second quarter valued at approximately $537,674,000. WCM Investment Management LLC increased its position in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of GE Vernova during the second quarter worth $399,770,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GEV shares. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Jefferies Financial Group lifted their target price on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price target on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company started coverage on shares of GE Vernova in a research note on Thursday, November 21st. They set an “overweight” rating and a $385.00 price target for the company. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Price Performance

GEV stock opened at $339.00 on Wednesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $357.09. The business’s 50 day simple moving average is $290.36 and its 200 day simple moving average is $217.76.

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.