GE Vernova (NYSE:GEV) Sets New 52-Week High at $167.17

GE Vernova Inc. (NYSE:GEV)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $167.17 and last traded at $166.26, with a volume of 4627851 shares traded. The stock had previously closed at $153.83.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. Evercore ISI started coverage on GE Vernova in a research note on Thursday, April 18th. They issued an “outperform” rating and a $174.00 price objective for the company. The Goldman Sachs Group started coverage on shares of GE Vernova in a research report on Tuesday, April 16th. They issued a “buy” rating and a $154.00 price objective on the stock. Melius initiated coverage on shares of GE Vernova in a research report on Monday, April 22nd. They set a “hold” rating and a $147.00 target price for the company. Mizuho lifted their price target on shares of GE Vernova from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised GE Vernova from a “neutral” rating to an “overweight” rating and set a $141.00 price objective for the company in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus 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 for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.56 billion. Research analysts forecast that GE Vernova Inc. will post 2.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boit C F David purchased a new position in GE Vernova during the first quarter valued at approximately $149,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of GE Vernova during the 1st quarter valued at $478,000. Valeo Financial Advisors LLC bought a new position in shares of GE Vernova in the first quarter worth $673,000. Anderson Hoagland & Co. purchased a new stake in shares of GE Vernova in the first quarter worth $1,720,000. Finally, Maryland State Retirement & Pension System bought a new stake in GE Vernova during the first quarter valued at $2,892,000.

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.