CIBC Asset Management Inc Acquires 3,153 Shares of GE Vernova Inc. (NYSE:GEV)

CIBC Asset Management Inc boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,012 shares of the company’s stock after acquiring an additional 3,153 shares during the quarter. CIBC Asset Management Inc’s holdings in GE Vernova were worth $10,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. raised its position in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the period. SteelPeak Wealth LLC raised its position in shares of GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after purchasing an additional 38 shares during the period. Global Retirement Partners LLC raised its position in shares of GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after purchasing an additional 40 shares during the period. Whittier Trust Co. raised its position in shares of GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after purchasing an additional 40 shares during the period. Finally, Rosenberg Matthew Hamilton grew its stake in shares of GE Vernova by 30.3% in the third quarter. Rosenberg Matthew Hamilton now owns 185 shares of the company’s stock worth $47,000 after acquiring an additional 43 shares during the last quarter.

GE Vernova Trading Up 1.1 %

Shares of GEV opened at $329.76 on Friday. The stock has a 50 day simple moving average of $273.49 and a 200 day simple moving average of $208.82. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $349.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GEV shares. Bank of America raised their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. HSBC restated a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.55.

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.