The Manufacturers Life Insurance Company Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

The Manufacturers Life Insurance Company decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 216,026 shares of the company’s stock after selling 5,736 shares during the period. The Manufacturers Life Insurance Company’s holdings in GE Vernova were worth $55,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new position in GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp acquired a new position in GE Vernova during the 2nd quarter worth $537,674,000. WCM Investment Management LLC grew its holdings in GE Vernova by 83.1% during the 3rd 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. Marshall Wace LLP acquired a new position in GE Vernova during the 2nd quarter worth $399,770,000. Finally, Legal & General Group Plc acquired a new position in GE Vernova during the 2nd quarter worth $293,699,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Evercore ISI lifted their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial lifted their price target on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of GE Vernova in a report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price target for the company. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

GE Vernova Stock Performance

GEV stock opened at $335.33 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $357.09. The firm’s 50-day moving average is $294.17 and its two-hundred day moving average is $219.39.

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.