ING Groep NV Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

ING Groep NV trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 86.6% in the third quarter, Holdings Channel reports. The institutional investor owned 25,763 shares of the company’s stock after selling 166,510 shares during the period. ING Groep NV’s holdings in GE Vernova were worth $6,569,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in GE Vernova during the first quarter worth approximately $63,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $367,474,000. Steadfast Capital Management LP acquired a new position in shares of GE Vernova in the 1st quarter valued at $80,235,000. Kinetic Partners Management LP purchased a new position in shares of GE Vernova in the 1st quarter valued at $20,854,000. Finally, Yaupon Capital Management LP acquired a new stake in GE Vernova during the 1st quarter worth $10,256,000.

GE Vernova Stock Performance

GE Vernova stock opened at $329.76 on Friday. The stock’s 50 day moving average price is $270.87 and its 200 day moving average price is $207.25. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $349.79.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Guggenheim started coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective on the stock. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Oppenheimer began coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. 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 target price on the stock. Finally, HSBC reiterated a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.55.

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.