Investment Management Corp of Ontario Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Investment Management Corp of Ontario grew its holdings in GE Vernova Inc. (NYSE:GEV) by 188.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,615 shares of the company’s stock after purchasing an additional 11,514 shares during the period. Investment Management Corp of Ontario’s holdings in GE Vernova were worth $4,491,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GEV. Newport Trust Company LLC purchased a new stake in shares of GE Vernova during the second quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova during the 2nd quarter worth about $537,674,000. Marshall Wace LLP purchased a new stake in GE Vernova during the 2nd quarter worth about $399,770,000. Legal & General Group Plc bought a new position in GE Vernova in the 2nd quarter worth about $293,699,000. Finally, Electron Capital Partners LLC grew its holdings in GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. HSBC reissued a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Morgan Stanley raised their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada boosted their price target on shares of GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Wells Fargo & Company began coverage on GE Vernova in a research report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $275.34.

GE Vernova Stock Performance

NYSE GEV opened at $331.92 on Wednesday. The company has a 50-day simple moving average of $299.20 and a two-hundred day simple moving average of $223.75. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $357.09.

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.