Truist Financial Initiates Coverage on GE Vernova (NYSE:GEV)

Truist Financial assumed coverage on shares of GE Vernova (NYSE:GEV) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $300.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Royal Bank of Canada boosted their target price on GE Vernova from $192.00 to $246.00 and gave the company an outperform rating in a research note on Tuesday, September 17th. William Blair initiated coverage on GE Vernova in a research report on Thursday, August 29th. They set an outperform rating on the stock. Jefferies Financial Group boosted their price objective on GE Vernova from $261.00 to $293.00 and gave the company a buy rating in a research report on Friday, September 20th. Finally, Bank of America raised GE Vernova from a neutral rating to a buy rating and increased their target price for the stock from $200.00 to $300.00 in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $227.48.

GE Vernova Stock Down 0.5 %

NYSE GEV opened at $249.86 on Thursday. GE Vernova has a 12 month low of $115.00 and a 12 month high of $258.64. The firm has a 50-day moving average of $196.33.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, equities research analysts predict that GE Vernova will post 2.83 EPS for the current year.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. acquired a new position in GE Vernova during the second quarter valued at approximately $126,000. Anchor Investment Management LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $326,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $34,149,000. KP Management LLC bought a new position in shares of GE Vernova in the second quarter valued at $707,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of GE Vernova in the second quarter valued at $76,000.

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.