GE Vernova (NYSE:GEV) Stock Price Up 0.3% – Time to Buy?

GE Vernova Inc. (NYSE:GEV) shares shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $282.97 and last traded at $277.36. 1,792,644 shares changed hands during trading, a decline of 50% from the average session volume of 3,586,339 shares. The stock had previously closed at $276.42.

Analyst Ratings Changes

Several analysts have weighed in on GEV shares. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $240.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price 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. Guggenheim began coverage on GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $251.83.

GE Vernova Trading Up 0.0 %

The stock has a fifty day moving average of $228.87 and a 200-day moving average of $187.33.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, analysts anticipate that GE Vernova Inc. will post 3.21 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. West Michigan Advisors LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $214,000. Walker Asset Management LLC acquired a new stake in GE Vernova in the third quarter valued at $254,000. Grimes & Company Inc. grew its position in shares of GE Vernova by 8.1% in the 3rd quarter. Grimes & Company Inc. now owns 3,825 shares of the company’s stock valued at $975,000 after acquiring an additional 285 shares during the period. CENTRAL TRUST Co increased its stake in shares of GE Vernova by 47.5% during the 3rd quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock worth $2,158,000 after purchasing an additional 2,726 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at about $531,000.

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.