Shares of GE Vernova Inc. (NYSE:GEV – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $301.53 and last traded at $296.33, with a volume of 182344 shares. The stock had previously closed at $298.77.
Analyst Upgrades and Downgrades
GEV has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho increased their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America raised their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley raised their price target on shares of GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Evercore ISI raised their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $261.40.
Read Our Latest Stock Analysis on GEV
GE Vernova Stock Performance
Hedge Funds Weigh In On GE Vernova
A number of hedge funds have recently added to or reduced their stakes in the business. Newport Trust Company LLC acquired a new position in GE Vernova in the second quarter worth $650,140,000. Bank of New York Mellon Corp bought a new stake in GE Vernova in the second quarter valued at $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova in the first quarter valued at $367,474,000. Marshall Wace LLP bought a new stake in GE Vernova in the second quarter valued at $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the second quarter valued at about $293,699,000.
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.
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