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

Meyer Handelman Co. has reduced its investment in GE Vernova Inc. (NYSE:GEV) by 6.2% during the third quarter, as disclosed in the firm's latest 13F filing with the Securities and Exchange Commission (SEC). Following this adjustment, Meyer Handelman now holds 39,687 shares, having sold 2,617 shares of the company's stock.

Investor Activity in GE Vernova

In the same quarter, Asio Capital LLC established a new position in GE Vernova by purchasing 15,196 shares, valued at approximately $3,875,000. Other institutional investors have also made changes to their stakes in the company. For instance, Valeo Financial Advisors LLC increased its holdings in GE Vernova by 29.7%, acquiring an additional 1,429 shares to reach a total of 6,242 shares worth $1,592,000. Merrion Investment Management Co LLC raised its stake by 0.8%, now owning 6,250 shares valued at $1,594,000. Similarly, Sendero Wealth Management LLC grew its position by 43.7%, bringing its total to 8,592 shares with a value of $2,191,000 after purchasing 2,614 additional shares. Additionally, Moller Wealth Partners and Quotient Wealth Partners acquired new stakes worth $232,000 and $252,000, respectively.

Analyst Ratings and Price Targets

Recent evaluations from various analysts have been positive for GE Vernova. The Goldman Sachs Group raised its price target from $220.00 to $308.00 and assigned a "buy" rating. Jefferies Financial Group similarly increased its price target from $261.00 to $293.00, maintaining a "buy" rating. Mizuho upgraded its target to $208.00 from $186.00, giving an "outperform" rating, while Barclays raised its target from $250.00 to $300.00, also marking the stock as "overweight." Furthermore, Morgan Stanley upgraded its target from $220.00 to $256.00 and rated the stock as "overweight" as well. Overall, seven analysts have rated GE Vernova with a hold, sixteen with a buy, and one with a strong buy, leading to an average rating of "Moderate Buy" and an average target price of $241.63 according to MarketBeat.com.

Current Stock Performance

GE Vernova shares opened at $266.89 recently, showing a slight increase of 0.9%. The company's stock has a 50-day simple moving average of $214.80, with a 12-month low of $115.00 and a high of $270.11. The company's latest earnings report, released on July 24th, showed an earnings per share (EPS) of $0.71, surpassing the analysts' expected EPS of $0.69. The company reported revenue of $8.20 billion, slightly lower than the anticipated $8.42 billion. Analysts forecast the company will report EPS of 3.21 for the current year.

Understanding GE Vernova

GE Vernova LLC is primarily engaged in the energy sector, providing electricity generation under three main segments: Power, Wind, and Electrification. The Power segment encompasses electricity generation through various means, including hydro, gas, nuclear, and steam power. The Wind segment focuses on manufacturing and selling wind turbine blades, while the Electrification segment offers products and solutions related to power conversion, grid solutions, solar, and energy storage.

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