GE Vernova (NYSE:GEV) Shares Down 0.4% – What’s Next?

by · The Cerbat Gem

GE Vernova Inc. (NYSE:GEV – Get Free Report) fell 0.4% during mid-day trading on Monday . The company traded as low as $292.54 and last traded at $299.98. 622,756 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,532,289 shares. The stock had previously closed at $301.09.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GEV shares. Evercore ISI boosted their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays raised their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Guggenheim began coverage on shares of GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price objective on the stock. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price objective on GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $261.40.

Check Out Our Latest Report on GEV

GE Vernova Price Performance

The company’s fifty day simple moving average is $246.45 and its 200 day simple moving average is $196.42.

Institutional Trading of GE Vernova

Institutional investors have recently modified their holdings of the stock. Newport Trust Company LLC acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in GE Vernova during the first quarter worth about $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova in the second quarter worth $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova in the second quarter valued at approximately $293,699,000.

GE Vernova Company Profile

(Get Free Report)

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.

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