GE Vernova (NYSE:GEV) Reaches New 1-Year High at $207.51

GE Vernova Inc. (NYSE:GEV)’s share price reached a new 52-week high on Wednesday . The company traded as high as $207.51 and last traded at $205.72, with a volume of 24676 shares traded. The stock had previously closed at $202.01.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group increased their price objective on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Mizuho increased their price target on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. William Blair began coverage on GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Evercore ISI upped their target price on shares of GE Vernova from $174.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group began coverage on shares of GE Vernova in a research note on Wednesday, September 4th. They issued a “buy” rating and a $261.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.28.

GE Vernova Stock Performance

The firm’s 50-day simple moving average is $179.31.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) 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 analyst estimates of $8.42 billion. As a group, analysts predict that GE Vernova Inc. will post 3.02 EPS for the current year.

Institutional Trading of GE Vernova

A number of large investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova during the second quarter worth about $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $26,000. Finally, Timber Creek Capital Management LLC purchased a new stake in shares of GE Vernova during the second quarter worth approximately $27,000.

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.