GE Vernova (NYSE:GEV) Shares Rise 0.2% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) experienced a slight increase of 0.2% during trading on Friday. The stock reached a peak of $336.62 before settling at $335.86. A total of approximately 301,643 shares changed hands, marking a significant drop of 91% compared to the average daily trading volume of 3,472,891 shares. Previously, the stock had closed at $335.33.

Wall Street Insights

Brokerages have offered various opinions on GEV. Wells Fargo & Company began coverage of GE Vernova on November 21st, issuing an "overweight" rating along with a target price of $385.00. Truist Financial, on October 24th, raised their price target for GE Vernova from $300.00 to $325.00, rating it as a "buy" in their research report. BMO Capital Markets increased their target price from $245.00 to $288.00, labeling the stock as "outperform" in a report on October 14th. Oppenheimer also started coverage of GE Vernova, providing a "market perform" rating on September 26th. However, HSBC Global Research downgraded GE Vernova from a "strong-buy" rating to a "hold" rating on October 4th. In total, seven equity research analysts rated the stock as a hold, eighteen recommended buying, and one analyst assigned a strong buy rating. According to MarketBeat data, the average rating for GEV is "Moderate Buy," with a typical price target set at $274.16.

Stock Performance Overview

The 50-day moving average price for GE Vernova stands at $295.95, while the 200-day moving average price is $220.98.

Institutional Investor Activity

Various institutional investors have recently adjusted their holdings in GEV. FMR LLC increased its stake in GE Vernova by 2.5% in the third quarter, owning 24,047,678 shares valued at $6,131,677,000 after acquiring an additional 584,208 shares. State Street Corp also raised its stake by 1.1%, now holding 10,434,917 shares valued at $2,660,695,000 after acquiring 118,184 new shares. Mountaineer Partners Management LLC established a new stake in GE Vernova during the third quarter, worth roughly $2,507,296,000. Geode Capital Management LLC grew its stake by 1.5% in the same quarter, now owning 5,594,223 shares valued at $1,420,763,000 after buying an additional 80,479 shares. Lastly, Newport Trust Company LLC added a new stake in GE Vernova, valued at approximately $650,140,000.

About GE Vernova

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GE Vernova LLC operates as an energy company generating electricity through three segments: Power, Wind, and Electrification. The Power segment focuses on generating electricity through hydro, gas, nuclear, and steam sources. The Wind segment manufactures and sells wind turbine blades, while the Electrification segment provides grid solutions, power conversion, solar solutions, and energy storage options.

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