GE Vernova Inc. (NYSE:GEV) Given Consensus Rating of “Moderate Buy” by Analysts

GE Vernova Inc. (NYSE:GEV) has been assigned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $203.03.

A number of analysts have recently commented on GEV shares. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a report on Friday. Citigroup started coverage on shares of GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 target price on the stock. Jefferies Financial Group started coverage on shares of GE Vernova in a report on Wednesday, September 4th. They set a “buy” rating and a $261.00 target price on the stock. Redburn Atlantic assumed coverage on GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target for the company. Finally, William Blair assumed coverage on shares of GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock.

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newport Trust Company LLC purchased a new stake in GE Vernova in the 2nd 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 purchased a new stake in GE Vernova in the 1st quarter worth approximately $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova in the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova in the 2nd quarter worth approximately $293,699,000.

GE Vernova Trading Up 5.0 %

NYSE:GEV opened at $226.01 on Friday. The firm has a fifty day moving average of $181.89. GE Vernova has a twelve month low of $115.00 and a twelve month high of $228.68.

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

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.