Meyer Handelman Co. Reduces Position in GE Vernova Inc. (NYSE:GEV)

Meyer Handelman Co. has decreased its stake in GE Vernova Inc. (NYSE:GEV) by 6.2% during the third quarter. Based on the latest 13F filing with the Securities and Exchange Commission (SEC), the firm now owns 39,687 shares of GE Vernova's stock after selling 2,617 shares.

Asio Capital Enters GE Vernova

In addition to Meyer Handelman, Asio Capital LLC has initiated a new position in GE Vernova. In its recent 13F filing, Asio Capital reported purchasing 15,196 shares valued at around $3,875,000 during the third quarter.

Institutional Investment Movements

Several other institutional investors have also made adjustments to their stakes in GE Vernova. Valeo Financial Advisors LLC increased its stake by 29.7%, bringing its total to 6,242 shares worth $1,592,000 after adding 1,429 shares. Similarly, Merrion Investment Management Co LLC raised its holdings by 0.8%, acquiring an additional 50 shares for a total of 6,250 shares valued at $1,594,000. Meanwhile, Sendero Wealth Management LLC significantly increased its stake by 43.7%, ending the quarter with 8,592 shares valued at $2,191,000 after purchasing 2,614 additional shares. Other new stakes were established by Moller Wealth Partners ($232,000) and Quotient Wealth Partners ($252,000).

Analyst Ratings and Price Targets

Recently, equity research analysts have expressed optimism about GE Vernova. The Goldman Sachs Group upgraded its price target from $220.00 to $308.00 while maintaining a "buy" rating. Similarly, Jefferies Financial Group adjusted its price target from $261.00 to $293.00 with a buy rating. Mizuho also raised its price estimate from $186.00 to $208.00, marking the company as an outperform. Barclays set a new target of $300.00, while Morgan Stanley increased its price objective from $220.00 to $256.00. Overall, the consensus rating among analysts conveys a "Moderate Buy" outlook with an average target price of $241.63.

GE Vernova Stock Performance

As of Friday, GE Vernova shares opened at $266.89. The company's 50-day simple moving average stands at $214.80, and its shares have fluctuated between a 12-month low of $115.00 and a high of $270.11.

Financial Results Overview

In its latest earnings report, GE Vernova announced earnings of $0.71 per share, exceeding analysts' expectations of $0.69. The company recorded revenue of $8.20 billion, slightly below the anticipated $8.42 billion. Analysts predict that GE Vernova will achieve earnings of approximately $3.21 per share for the current year.

Company Background

GE Vernova LLC operates primarily in the energy sector, focusing on electricity generation. Its operations span three segments: Power, Wind, and Electrification. The Power segment is involved in generating and selling electricity through various means, including hydro, gas, nuclear, and steam power. The Wind segment manufactures and sells wind turbine blades, while the Electrification segment provides solutions for grid management, power conversion, solar power, and energy storage.

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