GE Vernova (NYSE:GEV) Trading 2.4% Higher – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shot up 2.4% on Tuesday . The company traded as high as $333.33 and last traded at $333.33. 421,044 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 3,495,396 shares. The stock had previously closed at $325.37.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday. William Blair started coverage on shares of GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. Truist Financial raised their target price on shares of GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price target on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $264.55.

GE Vernova Trading Up 4.2 %

The firm has a fifty day moving average of $275.96 and a 200 day moving average of $210.43.

Institutional Inflows and Outflows

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

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.