Princeton Capital Management LLC Increases Position in GE Vernova Inc. (NYSE:GEV)

Princeton Capital Management LLC increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 163.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the company's stock after purchasing an additional 5,581 shares during the quarter. GE Vernova makes up 0.7% of Princeton Capital Management LLC's investment portfolio, making the stock its 25th largest holding. Princeton Capital Management LLC's holdings in GE Vernova were worth $2,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of GE Vernova in the first quarter valued at approximately $63,000. Price T Rowe Associates Inc. MD acquired a new position in shares of GE Vernova in the 1st quarter valued at $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 bought a new stake in GE Vernova in the 1st quarter valued at $20,854,000. Finally, Yaupon Capital Management LP acquired a new position in GE Vernova during the first quarter worth $10,256,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Bank of America increased their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Hsbc Global Res cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 4th. Truist Financial increased their target price on GE Vernova from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Oppenheimer initiated coverage on GE Vernova in a report on Thursday, September 26th. They set a "market perform" rating for the company. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $264.55.

GE Vernova Price Performance

Shares of GEV traded up $14.52 during trading hours on Tuesday, reaching $339.89. 1,252,423 shares of the company traded hands, compared to its average volume of 3,500,465. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $349.79. The business has a fifty day moving average price of $275.96 and a 200-day moving average price of $210.43.

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.