XTX Topco Ltd Enhances Investment in GE Vernova Inc. (NYSE:GEV)

XTX Topco Ltd significantly increased its investment in GE Vernova Inc. (NYSE:GEV) during the third quarter, raising its stake by an astonishing 804.1%. According to its latest filing with the SEC, XTX Topco Ltd now holds 20,206 shares of GE Vernova after acquiring an additional 17,971 shares in this period. This investment represents about 0.4% of XTX Topco Ltd's entire portfolio, making GE Vernova its 13th largest holding. The value of XTX Topco Ltd's stake in GE Vernova was reported as $5,152,000 as per the recent SEC disclosure.

Investment Activity by Other Firms

Many other institutional investors have also shown interest in GE Vernova. For instance, Castleview Partners LLC established a new position in the company during the third quarter that is valued at approximately $28,000. Covestor Ltd increased its holdings by 61.3%, now possessing 121 shares valued at $31,000 after purchasing an additional 46 shares in the quarter. Similarly, Darwin Wealth Management LLC acquired a new stake also worth $31,000 in the latest quarter.

Planning Capital Management Corp augmented its position dramatically by 1,000%, bringing its ownership to 143 shares valued at $36,000 after buying an additional 130 shares. Moreover, Deseret Mutual Benefit Administrators entered the scene with a new investment worth $25,000 in the second quarter.

Market Performance of GE Vernova

Currently, shares of GE Vernova Inc. are trading at $346.46 as of Friday. In the past year, the stock has experienced significant volatility, with a low of $115.00 and a high reaching $357.09. Its fifty-day simple moving average stands at $302.91, while the 200-day average is at $225.45.

Analyst Outlook on GE Vernova

Several financial analysts have released positive outlooks for GE Vernova. TD Cowen recently began coverage with a “buy” rating and set a price target of $400.00. Barclays upgraded its target from $320.00 to $420.00 and assigned an “overweight” rating. Meanwhile, JPMorgan Chase increased its price target from $330.00 to $356.00, also issuing an “overweight” rating. Jefferies Financial Group raised its forecast from $293.00 to $336.00 and called it a “buy” on October 18.

Truist Financial has similarly upped its target from $300.00 to $325.00 with a “buy” recommendation. In a broader context, seven analysts have assigned a hold rating, while twenty analysts have rated the stock as a buy, with one analyst labeling it a strong buy. According to MarketBeat data, the current consensus rating for GE Vernova is a “Moderate Buy,” and the average price target is $294.19.

About GE Vernova

GE Vernova LLC is an electricity-generating company that operates under three main segments: Power, Wind, and Electrification. The Power sector focuses on generating and selling electricity through various means, including hydro, gas, nuclear, and steam. The Wind segment specializes in manufacturing and selling wind turbine blades, while the Electrification sector provides grid solutions, power conversion, solar, and storage solutions.

Investment, Stocks, Finance