PNC Financial Services Group Inc. Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

PNC Financial Services Group Inc. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 237,552 shares of the company’s stock after selling 19,644 shares during the period. PNC Financial Services Group Inc.’s holdings in GE Vernova were worth $60,571,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GEV. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova during the 2nd quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova during the second quarter worth $25,000. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth $26,000. Finally, Timber Creek Capital Management LLC purchased a new stake in GE Vernova in the 2nd quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GEV shares. The Goldman Sachs Group upped their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI raised their price target on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.55.

GE Vernova Stock Up 0.8 %

Shares of NYSE GEV opened at $342.77 on Thursday. The company has a fifty day moving average price of $281.39 and a 200 day moving average price of $212.57. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $349.79.

GE Vernova 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.