GE Vernova (NYSE:GEV) Trading 1.9% Higher After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) shares traded up 1.9% during 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. 705,940 shares changed hands during trading, a decline of 80% from the average session volume of 3,490,342 shares. The stock had previously closed at $328.98.

Several other equities analysts have also recently weighed in on GEV. Guggenheim assumed coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target for the company. Truist Financial lifted their price target on GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets raised their price objective on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Oppenheimer assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. increased its stake in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. SteelPeak Wealth LLC grew its stake in GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after purchasing an additional 38 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after purchasing an additional 40 shares during the period. Whittier Trust Co. raised its stake in shares of GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after purchasing an additional 40 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in shares of GE Vernova by 21.6% during the third quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock worth $57,000 after purchasing an additional 40 shares during the period.

GE Vernova Stock Up 3.0 %

The stock’s 50 day moving average price is $290.36 and its two-hundred day moving average price is $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.