GE Vernova (NYSE:GEV) Shares Up 1.9% After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s share price rose 1.9% during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $285.00 to $376.00. Royal Bank of Canada currently has an outperform rating on the stock. GE Vernova traded as high as $337.70 and last traded at $335.28. Approximately 705,940 shares changed hands during trading, a decline of 80% from the average daily volume of 3,490,342 shares. The stock had previously closed at $328.98.

A number of other equities analysts have also recently commented on GEV. Wells Fargo & Company initiated coverage on shares of GE Vernova in a research report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 target price on the stock. William Blair initiated coverage on shares of GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. The Goldman Sachs Group increased their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI lifted their target price 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. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. FMR LLC increased its stake in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp increased its stake in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth $2,507,296,000. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Newport Trust Company LLC purchased a new stake in shares of GE Vernova during the second quarter worth about $650,140,000.

GE Vernova Stock Performance

The firm has a 50 day moving average of $290.36 and a 200-day moving average of $217.76.

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.