PNC Financial Services Group Inc. Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

PNC Financial Services Group Inc. lowered its position in GE Vernova Inc. (NYSE:GEV) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 237,552 shares of the company’s stock after selling 19,644 shares during the quarter. PNC Financial Services Group Inc. owned 0.09% of GE Vernova worth $60,571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in GE Vernova in the 3rd quarter valued at about $9,427,000. Lingohr Asset Management GmbH increased its holdings in GE Vernova by 4.7% in the third quarter. Lingohr Asset Management GmbH now owns 4,500 shares of the company’s stock worth $1,147,000 after buying an additional 200 shares during the last quarter. Princeton Capital Management LLC raised its holdings in GE Vernova by 163.2% during the third quarter. Princeton Capital Management LLC now owns 9,000 shares of the company’s stock valued at $2,295,000 after buying an additional 5,581 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in GE Vernova by 8.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,698 shares of the company’s stock valued at $943,000 after acquiring an additional 288 shares during the period. Finally, Legacy Bridge LLC bought a new position in shares of GE Vernova during the 3rd quarter worth about $1,582,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America upped 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. Oppenheimer assumed coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Barclays upped their target price on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Guggenheim assumed coverage on shares of GE Vernova in a report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $264.55.

GE Vernova Price Performance

GEV opened at $342.77 on Thursday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $349.79. The business’s fifty day simple moving average is $281.39 and its 200-day simple moving average is $212.57.

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.