GE Vernova (NYSE:GEV) Sets New 52-Week High – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $301.53 and last traded at $296.33, with a volume of 182344 shares trading hands. The stock had previously closed at $298.77.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 target price on the stock. Truist Financial boosted their target price on GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays boosted their target price on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Evercore ISI boosted their target price on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” 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 given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Stock Down 1.1 %

The stock’s 50 day moving average is $239.51 and its 200 day moving average is $192.87.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently modified their holdings of GEV. Maryland State Retirement & Pension System acquired a new stake in shares of GE Vernova during the 1st quarter worth about $2,892,000. Boit C F David acquired a new stake in shares of GE Vernova during the 1st quarter worth about $149,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of GE Vernova during the 1st quarter worth about $30,000. Nwam LLC acquired a new stake in shares of GE Vernova during the 1st quarter worth about $1,531,000. Finally, LRI Investments LLC acquired a new stake in shares of GE Vernova during the 1st quarter worth about $63,000.

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.