GE Vernova (NYSE:GEV) Trading 1.2% Higher – Still a Buy?

Shares of GE Vernova Inc. (NYSE:GEV) traded up 1.2% on Thursday . The company traded as high as $303.14 and last traded at $301.29. 445,573 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 3,543,507 shares. The stock had previously closed at $297.60.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research analyst reports. Barclays boosted their price target on GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Guggenheim assumed coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective for the company. Mizuho raised their target price on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Performance

The firm has a 50 day moving average of $246.45 and a 200 day moving average of $195.53.

Institutional Trading of GE Vernova

Several hedge funds have recently modified their holdings of GEV. Pittenger & Anderson Inc. boosted its holdings in GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing an additional 38 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after purchasing an additional 40 shares in the last quarter. Whittier Trust Co. grew its position in GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after purchasing an additional 40 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in GE Vernova by 30.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 185 shares of the company’s stock valued at $47,000 after purchasing an additional 43 shares in the last quarter.

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.