GE Vernova Inc. (NYSE:GEV) is Merewether Investment Management LP’s 2nd Largest Position

Merewether Investment Management LP lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 620,016 shares of the company’s stock after selling 123,400 shares during the quarter. GE Vernova accounts for 7.3% of Merewether Investment Management LP’s portfolio, making the stock its 2nd largest position. Merewether Investment Management LP owned approximately 0.22% of GE Vernova worth $158,092,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mission Creek Capital Partners Inc. purchased a new position in shares of GE Vernova during the third quarter worth $262,000. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at about $2,507,296,000. IHT Wealth Management LLC lifted its holdings in shares of GE Vernova by 2.6% in the 3rd quarter. IHT Wealth Management LLC now owns 2,953 shares of the company’s stock valued at $754,000 after buying an additional 76 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of GE Vernova by 2.0% in the third quarter. Integrated Wealth Concepts LLC now owns 10,051 shares of the company’s stock worth $2,563,000 after buying an additional 198 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in GE Vernova by 188.7% during the third quarter. Investment Management Corp of Ontario now owns 17,615 shares of the company’s stock worth $4,491,000 after acquiring an additional 11,514 shares during the period.

GE Vernova Trading Down 1.7 %

NYSE GEV opened at $331.92 on Wednesday. The business’s fifty day simple moving average is $299.20 and its 200-day simple moving average is $223.75. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $357.09.

Analysts Set New Price Targets

A number of research analysts have issued reports on GEV shares. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $330.00 to $356.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Bank of America raised their target price on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $275.34.

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.