Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 124 Shares of GE Vernova Inc. (NYSE:GEV)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,207 shares of the company’s stock after selling 124 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in GE Vernova were worth $1,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at $650,140,000. Bank of New York Mellon Corp bought a new stake in GE Vernova during the 2nd quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova during the 1st 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 stake in shares of GE Vernova during the second quarter valued at approximately $293,699,000.

GE Vernova Price Performance

GEV traded down $2.90 during trading hours on Monday, reaching $290.64. 354,549 shares of the company’s stock traded hands, compared to its average volume of 3,571,833. The firm has a 50-day moving average price of $235.14 and a 200 day moving average price of $190.64. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $298.81.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GEV. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. HSBC reiterated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Guggenheim initiated coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.