GE Vernova (NYSE:GEV) Trading 0.5% Higher – Here’s Why

Shares of GE Vernova Inc. (NYSE:GEV) were up 0.5% during mid-day trading on Thursday . The company traded as high as $339.52 and last traded at $337.93. Approximately 744,589 shares traded hands during trading, a decline of 79% from the average daily volume of 3,529,741 shares. The stock had previously closed at $336.30.

Analysts Set New Price Targets

Several brokerages have recently commented on GEV. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Royal Bank of Canada boosted their target price on GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America lifted their price target on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group increased their price objective on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Trading Up 1.3 %

The company’s fifty day moving average price is $260.05 and its two-hundred day moving average price is $202.14.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hanlon Investment Management Inc. purchased a new stake in GE Vernova during the third quarter valued at about $1,101,000. Aspire Private Capital LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $40,000. Legal & General Group Plc purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $293,699,000. Fractal Investments LLC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $1,530,000. Finally, Central Pacific Bank Trust Division raised its holdings in GE Vernova by 1,242.9% in the third quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after buying an additional 2,175 shares during the period.

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.