GE Vernova (NYSE:GEV) Shares Up 0.9%

GE Vernova Inc. (NYSE:GEV)’s stock price rose 0.9% during trading on Monday . The stock traded as high as $170.11 and last traded at $167.80. Approximately 1,453,301 shares were traded during trading, a decline of 77% from the average daily volume of 6,229,973 shares. The stock had previously closed at $166.26.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Mizuho increased their target price on shares of GE Vernova from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised GE Vernova from a “neutral” rating to an “overweight” rating and set a $141.00 target price on the stock in a research note on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price target on shares of GE Vernova in a research note on Friday, April 12th. Evercore ISI began coverage on shares of GE Vernova in a report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 price objective for the company. Finally, Bank of America assumed coverage on GE Vernova in a research report on Wednesday, April 24th. They issued a “neutral” rating and a $150.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $158.56.

GE Vernova Price Performance

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, sell-side analysts anticipate that GE Vernova Inc. will post 2.95 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of GE Vernova in the 1st quarter worth $30,000. Boit C F David purchased a new stake in shares of GE Vernova during the first quarter valued at $149,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in GE Vernova in the 1st quarter worth about $478,000. Valeo Financial Advisors LLC bought a new position in shares of GE Vernova during the 1st quarter valued at $673,000. Finally, Anderson Hoagland & Co. bought a new stake in shares of GE Vernova during the 1st quarter valued at about $1,720,000.

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.