GE Vernova (NYSE:GEV) Downgraded by Hsbc Global Res to “Hold”

Hsbc Global Res downgraded shares of GE Vernova (NYSE:GEV) from a strong-buy rating to a hold rating in a report published on Friday, Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the stock an outperform rating in a report on Tuesday, September 17th. Raymond James lowered shares of GE Vernova from an outperform rating to a market perform rating in a research report on Wednesday, October 2nd. Daiwa Capital Markets began coverage on GE Vernova in a report on Friday, June 21st. They set an outperform rating and a $201.50 price objective on the stock. Argus began coverage on shares of GE Vernova in a report on Thursday, June 13th. They issued a buy rating and a $190.00 price target for the company. Finally, Mizuho boosted their price objective on GE Vernova from $186.00 to $208.00 and gave the stock an outperform rating in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of Moderate Buy and an average target price of $234.98.

GE Vernova Trading Down 1.2 %

Shares of GEV stock opened at $262.41 on Friday. The firm has a 50 day moving average of $205.35. GE Vernova has a one year low of $115.00 and a one year high of $266.42.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 the consensus estimate of $8.42 billion. As a group, sell-side analysts anticipate that GE Vernova will post 2.83 EPS for the current fiscal year.

Institutional Trading of GE Vernova

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