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

Shares of GE Vernova Inc. (NYSE:GEV) have earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $219.42.

A number of research analysts have recently issued reports on the stock. Bank of America upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $300.00 in a research report on Tuesday. The Goldman Sachs Group upped their price target on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Hsbc Global Res raised GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. HSBC began coverage on GE Vernova in a research report on Monday, August 12th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Argus initiated coverage on GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price for the company.

GE Vernova Trading Up 0.4 %

Shares of GE Vernova stock opened at $245.46 on Friday. GE Vernova has a twelve month low of $115.00 and a twelve month high of $250.85. The business has a fifty day simple moving average of $188.08.

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, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. As a group, sell-side analysts predict that GE Vernova will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

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