GE Vernova (NYSE:GEV) Downgraded to Hold at Hsbc Global Res

Hsbc Global Res downgraded shares of GE Vernova (NYSE:GEV) from a strong-buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

GEV has been the topic of several other research reports. Jefferies Financial Group upped their price objective on shares of GE Vernova from $261.00 to $293.00 and gave the company a buy rating in a report on Friday, September 20th. HSBC reaffirmed a hold rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday. Morgan Stanley boosted their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the company an overweight rating in a report on Friday, September 13th. Barclays raised their target price on GE Vernova from $250.00 to $300.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Raymond James downgraded GE Vernova from an outperform rating to a market perform rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $234.98.

GE Vernova Stock Up 4.3 %

Shares of GE Vernova stock traded up $10.91 on Friday, reaching $265.59. The stock had a trading volume of 3,159,216 shares, compared to its average volume of 3,736,874. The firm’s 50 day moving average price is $205.35. GE Vernova has a 1 year low of $115.00 and a 1 year high of $266.42.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities research analysts forecast that GE Vernova will post 2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

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