GE Vernova (NYSE:GEV) Trading Up 2.9% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) shares shot up 2.9% during mid-day trading on Wednesday after Barclays raised their price target on the stock from $320.00 to $420.00. Barclays currently has an overweight rating on the stock. GE Vernova traded as high as $343.06 and last traded at $341.70. 742,396 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,445,816 shares. The stock had previously closed at $331.92.

GEV has been the topic of a number of other research reports. William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Morgan Stanley increased their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, Guggenheim boosted their price target on GE Vernova from $300.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $294.19.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares in the last quarter. Tidal Investments LLC boosted its position in GE Vernova by 5.4% during the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock worth $1,854,000 after purchasing an additional 374 shares in the last quarter. Optimist Retirement Group LLC acquired a new stake in GE Vernova in the third quarter valued at $249,000. Blankinship & Foster LLC purchased a new position in shares of GE Vernova in the third quarter valued at $204,000. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of GE Vernova by 219.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,265 shares of the company’s stock worth $2,617,000 after buying an additional 7,054 shares during the last quarter.

GE Vernova Stock Up 1.3 %

The firm’s 50-day moving average is $302.91 and its 200 day moving average is $225.45.

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.