GE Vernova (NYSE:GEV) Hits New 52-Week High at $236.20

GE Vernova Inc. (NYSE:GEV)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $236.20 and last traded at $236.20, with a volume of 913103 shares. The stock had previously closed at $229.93.

Analysts Set New Price Targets

Several analysts recently weighed in on GEV shares. William Blair initiated coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Hsbc Global Res upgraded GE Vernova to a “strong-buy” rating in a research report on Monday, August 12th. Daiwa Capital Markets began coverage on GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of GE Vernova in a research note on Monday, July 22nd. Finally, Evercore ISI increased their price target on GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.97.

GE Vernova Stock Performance

The business has a 50-day moving average of $183.00.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that GE Vernova Inc. 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 bought and sold shares of the stock. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova during the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at $25,000. Global Trust Asset Management LLC purchased a new stake in shares of GE Vernova in the second quarter valued at $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova in the second quarter worth $27,000.

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.