Massachusetts Financial Services Co. MA Reduces Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Massachusetts Financial Services Co. MA lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 89.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,598 shares of the company’s stock after selling 620,515 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GE Vernova were worth $19,276,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova during the second quarter valued at approximately $537,674,000. WCM Investment Management LLC lifted its holdings in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the period. Marshall Wace LLP purchased a new stake in GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $293,699,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GEV shares. BMO Capital Markets increased their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Oppenheimer initiated coverage on GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Morgan Stanley raised their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their target price on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

GE Vernova Price Performance

Shares of GEV stock opened at $329.00 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09. The company’s 50-day moving average price is $288.35 and its 200-day moving average price is $216.55.

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.