Citigroup Inc. Grows Position in GE Vernova Inc. (NYSE:GEV)

Citigroup Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 88.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 596,410 shares of the company’s stock after purchasing an additional 279,321 shares during the quarter. Citigroup Inc.’s holdings in GE Vernova were worth $152,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Trust N.A. lifted its holdings in shares of GE Vernova by 9.8% in the 3rd quarter. Raymond James Trust N.A. now owns 20,288 shares of the company’s stock worth $5,173,000 after acquiring an additional 1,818 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of GE Vernova by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,629,575 shares of the company’s stock worth $415,509,000 after purchasing an additional 188,434 shares in the last quarter. Banco Santander S.A. purchased a new position in GE Vernova in the 3rd quarter valued at approximately $953,000. L & S Advisors Inc acquired a new position in GE Vernova during the 3rd quarter worth $1,221,000. Finally, Smithfield Trust Co grew its position in shares of GE Vernova by 44.6% during the third quarter. Smithfield Trust Co now owns 5,600 shares of the company’s stock worth $1,431,000 after buying an additional 1,727 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 target price for the company. Oppenheimer assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets raised their target price on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $270.02.

GE Vernova Stock Performance

Shares of GEV opened at $349.16 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09. The firm’s 50-day moving average is $286.37 and its two-hundred day moving average is $214.71.

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.