GE Vernova (NYSE:GEV) Hits New 12-Month High at $167.17

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

Analysts Set New Price Targets

A number of research firms have weighed in on GEV. Melius assumed coverage on GE Vernova in a report on Monday, April 22nd. They issued a “hold” rating and a $147.00 target price on the stock. Mizuho boosted their target price on shares of GE Vernova from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America started coverage on shares of GE Vernova in a research report on Wednesday, April 24th. They issued a “neutral” rating and a $150.00 price target on the stock. BNP Paribas assumed coverage on GE Vernova in a research note on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 price objective for the company. Finally, Raymond James started coverage on GE Vernova in a report on Wednesday, April 17th. They issued an “outperform” rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.56.

GE Vernova Price Performance

GE Vernova (NYSE:GEV) last released its earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.56 billion. Sell-side analysts predict that GE Vernova Inc. will post 2.98 EPS for the current fiscal year.

Institutional Trading of GE Vernova

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

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.