GE Vernova (NYSE:GEV) Trading 0.9% Higher Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s share price rose 0.9% during trading on Monday after Morgan Stanley raised their price target on the stock from $301.00 to $367.00. Morgan Stanley currently has an overweight rating on the stock. GE Vernova traded as high as $332.93 and last traded at $332.59. Approximately 440,004 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,505,813 shares. The stock had previously closed at $329.76.

Several other equities research analysts also recently issued reports on GEV. JPMorgan Chase & Co. upped their price target on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. BMO Capital Markets raised their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. HSBC restated a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Truist Financial increased their target price on GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI increased their price target on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.55.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC grew its position in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. State Street Corp increased its holdings in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new position in GE Vernova during the 3rd quarter valued at approximately $2,507,296,000. Geode Capital Management LLC lifted its holdings in GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $650,140,000.

GE Vernova Price Performance

The stock has a 50-day moving average price of $273.49 and a two-hundred day moving average price of $209.23.

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.