GE Vernova (NYSE:GEV) Trading Up 0.3% – Still a Buy?

GE Vernova Inc. (NYSE:GEV)’s share price was up 0.3% during mid-day trading on Wednesday . The stock traded as high as $282.97 and last traded at $277.36. Approximately 1,792,644 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 3,586,339 shares. The stock had previously closed at $276.42.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America raised their target price on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial upped their price target on GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Guggenheim started coverage on shares of GE Vernova in a research note on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Price Performance

The stock has a 50-day moving average of $232.95 and a two-hundred day moving average of $188.73.

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

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently bought and sold shares of the business. Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova in the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova during the 1st quarter valued at $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova in the second quarter worth $399,770,000. Finally, Legal & General Group Plc purchased a new stake in shares of GE Vernova during the second quarter worth $293,699,000.

About GE Vernova

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.