GE Vernova (NYSE:GEV) Now Covered by Analysts at Truist Financial

Truist Financial began coverage on shares of GE Vernova (NYSE:GEV) in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $300.00 target price on the stock.

Several other equities research analysts also recently issued reports on GEV. Mizuho increased their price target on GE Vernova from $186.00 to $208.00 and gave the stock an outperform rating in a report on Friday, July 26th. HSBC assumed coverage on GE Vernova in a research note on Monday, August 12th. They set a buy rating and a $215.00 target price for the company. Guggenheim started coverage on shares of GE Vernova in a report on Tuesday. They issued a buy rating and a $300.00 price target for the company. William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an outperform rating on the stock. Finally, Royal Bank of Canada upped their target price on shares of GE Vernova from $192.00 to $246.00 and gave the stock an outperform rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has an average rating of Moderate Buy and a consensus target price of $227.48.

GE Vernova Price Performance

Shares of GEV stock opened at $251.22 on Thursday. The company has a 50-day moving average of $192.81. GE Vernova has a one year low of $115.00 and a one year high of $258.64.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. As a group, sell-side analysts expect that GE Vernova will post 2.83 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after purchasing an additional 61 shares during the last quarter. Wedmont Private Capital grew its holdings in GE Vernova by 3.2% during the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after purchasing an additional 109 shares during the period. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova during the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new stake in GE Vernova in the second quarter valued at approximately $25,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $25,000.

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.