Commerce Bank Trims Stake in GE Vernova Inc. (NYSE:GEV)

Commerce Bank lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 10.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,614 shares of the company’s stock after selling 1,315 shares during the period. Commerce Bank’s holdings in GE Vernova were worth $2,961,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GEV. Newport Trust Company LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova in the second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova during the first quarter valued at approximately $367,474,000. Marshall Wace LLP purchased a new position in GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc bought a new position in shares of GE Vernova in the 2nd quarter worth $293,699,000.

GE Vernova Trading Up 2.7 %

NYSE:GEV opened at $349.16 on Friday. The firm’s fifty day simple moving average is $286.37 and its 200 day simple moving average is $214.71. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEV. Royal Bank of Canada lifted their price objective on shares of GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets raised their price objective on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Bank of America lifted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $270.02.

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.