CIBC Asset Management Inc Acquires 3,153 Shares of GE Vernova Inc. (NYSE:GEV)

CIBC Asset Management Inc boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,012 shares of the company's stock after purchasing an additional 3,153 shares during the quarter. CIBC Asset Management Inc's holdings in GE Vernova were worth $10,202,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Waverton Investment Management Ltd increased its stake in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock valued at $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in GE Vernova in the third quarter valued at $1,101,000. Aspire Private Capital LLC bought a new stake in GE Vernova in the second quarter valued at $40,000. Legal & General Group Plc bought a new position in shares of GE Vernova during the 2nd quarter worth about $293,699,000. Finally, Fractal Investments LLC bought a new position in shares of GE Vernova during the 3rd quarter worth about $1,530,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on GEV. Oppenheimer assumed coverage on GE Vernova in a research note on Thursday, September 26th. They set a "market perform" rating on the stock. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Barclays upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Guggenheim began coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They issued a "buy" rating and a $300.00 price target on the stock. 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 company. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $264.55.

GE Vernova Price Performance

NYSE GEV traded up $3.72 on Friday, hitting $329.76. 2,931,274 shares of the stock traded hands, compared to its average volume of 2,865,417. The business's fifty day moving average is $273.49 and its two-hundred day moving average is $208.82. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $349.79.

GE Vernova Company Profile

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.