GE Vernova (NYSE:GEV) Trading 0.5% Higher – Here’s Why

GE Vernova Inc. (NYSE:GEV)’s stock price traded up 0.5% during mid-day trading on Thursday . The stock traded as high as $339.52 and last traded at $337.93. 744,589 shares were traded during trading, a decline of 79% from the average session volume of 3,529,741 shares. The stock had previously closed at $336.30.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEV. Morgan Stanley raised their price objective on GE Vernova from $256.00 to $301.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upped their target price on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Price Performance

The business’s 50-day simple moving average is $254.36 and its two-hundred day simple moving average is $199.77.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently bought and sold shares of the business. Taurus Asset Management LLC purchased a new stake in shares of GE Vernova in the third quarter valued at approximately $211,000. Aljian Capital Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $741,000. Swiss National Bank increased its holdings in GE Vernova by 0.3% in the 3rd quarter. Swiss National Bank now owns 813,565 shares of the company’s stock worth $207,443,000 after acquiring an additional 2,100 shares in the last quarter. Thrivent Financial for Lutherans raised its position in GE Vernova by 24.0% during the third quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock worth $4,311,000 after acquiring an additional 3,274 shares during the period. Finally, Claro Advisors LLC lifted its holdings in GE Vernova by 22.8% during the third quarter. Claro Advisors LLC now owns 1,465 shares of the company’s stock valued at $374,000 after purchasing an additional 272 shares in the last quarter.

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.