GE Vernova (NYSE:GEV) Downgraded to “Market Perform” at Raymond James

GE Vernova (NYSE:GEV) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

A number of other brokerages also recently issued reports on GEV. Oppenheimer started coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. William Blair began coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. BMO Capital Markets initiated coverage on GE Vernova in a research note on Friday, September 13th. They issued an “outperform” rating and a $245.00 price target on the stock. Argus began coverage on GE Vernova in a research report on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective for the company. Finally, Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.48.

GE Vernova Trading Up 0.6 %

NYSE GEV opened at $256.53 on Wednesday. The stock’s fifty day moving average is $199.81. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $258.64.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities analysts anticipate that GE Vernova will post 2.83 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently modified their holdings of the company. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova in the second quarter valued at $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in GE Vernova during the second quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in GE Vernova during the second quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC acquired a new position in GE Vernova in the second quarter valued at approximately $27,000.

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.