GE Vernova (NYSE:GEV) Shares Up 4.7% – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shares rose 4.7% on Tuesday . The company traded as high as $309.33 and last traded at $309.30. Approximately 687,681 shares changed hands during trading, a decline of 80% from the average daily volume of 3,522,292 shares. The stock had previously closed at $295.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America increased 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. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 target price on the stock. Barclays upped their price target on GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, BMO Capital Markets upped their target price on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seven 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Price Performance

The firm’s fifty day moving average price is $248.71 and its 200 day moving average price is $197.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pittenger & Anderson Inc. grew its stake in GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the last quarter. SteelPeak Wealth LLC grew its position in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after buying an additional 38 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after acquiring an additional 40 shares in the last quarter. Whittier Trust Co. lifted its position in GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after acquiring an additional 40 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in GE Vernova by 30.3% in the third quarter. Rosenberg Matthew Hamilton now owns 185 shares of the company’s stock valued at $47,000 after acquiring an additional 43 shares in the last quarter.

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.