GE Vernova (NYSE:GEV) Sets New 12-Month High at $207.51

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $207.51 and last traded at $205.72, with a volume of 24676 shares trading hands. The stock had previously closed at $202.01.

Analyst Ratings Changes

A number of brokerages have recently commented on GEV. Citigroup assumed coverage on shares of GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Evercore ISI increased their price target on GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday. William Blair began coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Mizuho upped their target price on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $196.66.

GE Vernova Stock Performance

The stock’s 50-day moving average is $180.89.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, research analysts predict that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently modified their holdings of the stock. Aspire Private Capital LLC purchased a new position in GE Vernova in the 2nd quarter worth approximately $40,000. GAMMA Investing LLC purchased a new position in shares of GE Vernova in the second quarter valued at $776,000. Sequoia Financial Advisors LLC purchased a new position in shares of GE Vernova in the second quarter valued at $2,724,000. Parsons Capital Management Inc. RI acquired a new stake in GE Vernova during the 2nd quarter valued at $275,000. Finally, Armstrong Henry H Associates Inc. purchased a new stake in GE Vernova during the 2nd quarter worth $523,000.

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.