GE Vernova (NYSE:GEV) Downgraded by Raymond James

GE Vernova (NYSE:GEV) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

A number of other analysts also recently issued reports on the company. Evercore ISI lifted their price objective on GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. BMO Capital Markets initiated coverage on shares of GE Vernova in a research note on Friday, September 13th. They issued an “outperform” rating and a $245.00 price objective for the company. Truist Financial began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Daiwa America raised GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Finally, The Goldman Sachs Group raised their price target on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.48.

GE Vernova Stock Performance

Shares of GEV stock opened at $256.53 on Wednesday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $258.64. The stock has a 50 day simple moving average of $199.81.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. Research analysts forecast that GE Vernova will post 2.83 earnings per share for the current year.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of GEV. Appleton Partners Inc. MA acquired a new stake in GE Vernova in the 3rd quarter worth about $13,651,000. First Financial Bank Trust Division acquired a new stake in shares of GE Vernova in the third quarter worth approximately $226,000. Centaurus Financial Inc. purchased a new stake in shares of GE Vernova during the second quarter worth approximately $126,000. Anchor Investment Management LLC acquired a new position in GE Vernova in the 2nd quarter valued at $326,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in GE Vernova in the 2nd quarter valued at $34,149,000.

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.