GE Vernova (NYSE:GEV) Shares Up 0.3% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV)’s stock price traded up 0.3% during mid-day trading on Wednesday . The company traded as high as $282.97 and last traded at $277.36. 1,792,644 shares were traded during trading, a decline of 50% from the average session volume of 3,586,339 shares. The stock had previously closed at $276.42.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Barclays increased their target price on GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Oppenheimer began coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. HSBC reissued a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. William Blair assumed coverage on shares of GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday. They issued a “buy” rating and a $354.00 price objective for the company. Seven research 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’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $251.83.

GE Vernova Stock Performance

The firm’s fifty day moving average price is $228.87 and its 200-day moving average price is $187.33.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. Research analysts predict that GE Vernova Inc. will post 3.21 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently modified their holdings of the business. West Michigan Advisors LLC acquired a new stake in GE Vernova in the third quarter valued at $214,000. Walker Asset Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at about $254,000. Grimes & Company Inc. grew its position in shares of GE Vernova by 8.1% in the 3rd quarter. Grimes & Company Inc. now owns 3,825 shares of the company’s stock valued at $975,000 after buying an additional 285 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of GE Vernova by 47.5% in the third quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock valued at $2,158,000 after buying an additional 2,726 shares during the period. Finally, Global Assets Advisory LLC bought a new position in shares of GE Vernova during the third quarter worth about $531,000.

GE Vernova Company 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.