GE Vernova (NYSE:GEV) Trading 0.9% Higher Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) was up 0.9% on Monday after Morgan Stanley raised their price target on the stock from $301.00 to $367.00. Morgan Stanley currently has an overweight rating on the stock. GE Vernova traded as high as $332.93 and last traded at $332.59. Approximately 440,004 shares changed hands during trading, a decline of 87% from the average daily volume of 3,505,813 shares. The stock had previously closed at $329.76.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada boosted their price objective on GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI raised their price objective 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. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Guggenheim started coverage on shares of GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.55.

Institutional Investors Weigh In On GE Vernova

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

GE Vernova Price Performance

The firm’s 50-day moving average is $278.72 and its 200-day moving average is $211.66.

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.