First Bancorp Inc ME Purchases 44 Shares of GE Vernova Inc. (NYSE:GEV)

First Bancorp Inc ME raised its position in GE Vernova Inc. (NYSE:GEV) by 3.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,450 shares of the company’s stock after purchasing an additional 44 shares during the period. First Bancorp Inc ME’s holdings in GE Vernova were worth $370,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of GEV. NovaPoint Capital LLC lifted its holdings in GE Vernova by 7.7% in the third quarter. NovaPoint Capital LLC now owns 5,053 shares of the company’s stock valued at $1,288,000 after buying an additional 361 shares during the period. Blue Trust Inc. bought a new position in shares of GE Vernova in the 3rd quarter worth about $602,000. Net Worth Advisory Group acquired a new position in shares of GE Vernova in the 3rd quarter valued at about $244,000. Stratos Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at about $305,000. Finally, Aspiriant LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at about $347,000.

GE Vernova Price Performance

Shares of NYSE GEV traded up $0.72 during mid-day trading on Friday, hitting $272.72. The company had a trading volume of 2,353,706 shares, compared to its average volume of 3,613,540. The stock’s 50-day moving average price is $224.93 and its 200-day moving average price is $184.85. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $281.37.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts anticipate that GE Vernova Inc. will post 3.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GEV. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. The Goldman Sachs Group boosted their target price 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. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Truist Financial initiated coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.73.

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.