Truist Financial Increases GE Vernova (NYSE:GEV) Price Target to $325.00

GE Vernova (NYSE:GEV) had its price target increased by Truist Financial from $300.00 to $325.00 in a research report report published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

GEV has been the subject of several other research reports. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised their target price on shares of GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised their target price on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday. Guggenheim initiated coverage on shares of GE Vernova in a report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Seven 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Price Performance

Shares of NYSE GEV traded down $0.23 during trading hours on Thursday, reaching $296.77. 632,746 shares of the stock were exchanged, compared to its average volume of 3,583,822. GE Vernova has a 52 week low of $115.00 and a 52 week high of $298.81. The stock’s fifty day simple moving average is $230.78 and its 200 day simple moving average is $187.97.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. Equities research analysts predict that GE Vernova will post 3.21 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its position in GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after buying an additional 40 shares during the period. Whittier Trust Co. lifted its position in shares of GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after purchasing an additional 40 shares during the period. First Bancorp Inc ME lifted its position in shares of GE Vernova by 3.1% in the 3rd quarter. First Bancorp Inc ME now owns 1,450 shares of the company’s stock worth $370,000 after purchasing an additional 44 shares during the period. Plimoth Trust Co. LLC lifted its position in shares of GE Vernova by 1.4% in the 3rd quarter. Plimoth Trust Co. LLC now owns 3,279 shares of the company’s stock worth $836,000 after purchasing an additional 44 shares during the period. Finally, Miracle Mile Advisors LLC lifted its position in shares of GE Vernova by 1.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock worth $706,000 after purchasing an additional 48 shares during the period.

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.