GE Vernova (NYSE:GEV) Sets New 12-Month High – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $325.50 and last traded at $324.00, with a volume of 101362 shares. The stock had previously closed at $315.77.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented 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 report on Thursday, October 24th. Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. Guggenheim began coverage on shares of GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price for the company. Mizuho raised their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Evercore ISI upped their price target on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Price Performance

The firm has a 50 day moving average of $251.31 and a two-hundred day moving average of $198.81.

Institutional Trading of GE Vernova

Several institutional investors have recently bought and sold shares of the company. Hanlon Investment Management Inc. bought a new stake in GE Vernova during the third quarter valued at about $1,101,000. Aspire Private Capital LLC purchased a new stake in GE Vernova in the 2nd quarter worth approximately $40,000. Legal & General Group Plc purchased a new position in GE Vernova during the second quarter valued at approximately $293,699,000. Central Pacific Bank Trust Division increased its stake in shares of GE Vernova by 1,242.9% in the third quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock worth $599,000 after purchasing an additional 2,175 shares in the last quarter. Finally, Concourse Financial Group Securities Inc. raised its position in shares of GE Vernova by 75.6% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock valued at $1,264,000 after purchasing an additional 2,134 shares during the period.

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.