GE Vernova (NYSE:GEV) Reaches New 1-Year High at $236.20

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $236.20 and last traded at $236.20, with a volume of 913103 shares changing hands. The stock had previously closed at $229.93.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. Daiwa Capital Markets initiated coverage on GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Redburn Atlantic assumed coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Citigroup assumed coverage on shares of GE Vernova in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday. Finally, William Blair initiated coverage on GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.97.

GE Vernova Trading Up 2.8 %

The firm’s 50-day moving average is $183.00.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, equities analysts anticipate that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of GEV. Deseret Mutual Benefit Administrators bought a new stake in GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova during the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of GE Vernova during the second quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova during the second quarter valued at about $26,000. Finally, Gradient Investments LLC acquired a new position in shares of GE Vernova during the second quarter valued at about $27,000.

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.