GE Vernova (NYSE:GEV) Reaches New 1-Year High at $202.60

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $202.60 and last traded at $193.50, with a volume of 4020 shares trading hands. The stock had previously closed at $192.55.

Analysts Set New Price Targets

GEV has been the topic of several research reports. Evercore ISI upped their price objective on shares of GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group started coverage on GE Vernova in a research note on Wednesday. They issued a “buy” rating and a $261.00 price objective for the company. Argus initiated coverage on GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. increased their target price on GE Vernova from $195.00 to $216.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $180.00 price target on shares of GE Vernova in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.28.

GE Vernova Price Performance

The business has a 50-day moving average price of $176.60.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Analysts forecast that GE Vernova Inc. will post 3.1 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new position in shares of GE Vernova in the second quarter worth about $40,000. GAMMA Investing LLC purchased a new position in GE Vernova in the 2nd quarter worth approximately $776,000. Sequoia Financial Advisors LLC bought a new stake in GE Vernova in the second quarter valued at approximately $2,724,000. Parsons Capital Management Inc. RI purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $275,000. Finally, Armstrong Henry H Associates Inc. bought a new position in shares of GE Vernova in the second quarter worth approximately $523,000.

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.