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

GE Vernova Inc. (NYSE:GEVGet Free Report)’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.

Get Our Latest Analysis on GEV

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

(Get Free Report)

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.

Further Reading

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