GE Vernova (NYSE:GEV) Shares Down 2.3% – Here’s Why

GE Vernova Inc. (NYSE:GEV)’s stock price fell 2.3% during trading on Wednesday . The company traded as low as $329.63 and last traded at $331.09. 561,038 shares traded hands during trading, a decline of 84% from the average session volume of 3,480,448 shares. The stock had previously closed at $338.89.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GEV shares. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Barclays upped their target price on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. BMO Capital Markets increased their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group increased their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.16.

GE Vernova Price Performance

The firm’s 50 day simple moving average is $294.17 and its 200-day simple moving average is $219.39.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pittenger & Anderson Inc. increased its position in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares during the last quarter. SteelPeak Wealth LLC grew its stake in shares of GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after buying an additional 38 shares in the last quarter. Global Retirement Partners LLC increased its holdings in GE Vernova by 0.9% during the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after buying an additional 40 shares during the last quarter. Whittier Trust Co. raised its position in GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares in the last quarter. Finally, Dunhill Financial LLC lifted its stake in GE Vernova by 21.6% in the third quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock valued at $57,000 after acquiring an additional 40 shares during 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.