GE Vernova (NYSE:GEV) Stock Price Up 3% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price was up 3% during mid-day trading on Tuesday . The company traded as high as $974.20 and last traded at $970.55. 1,693,984 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 2,704,283 shares. The stock had previously closed at $941.95.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Guggenheim lifted their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. TD Cowen raised their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Oppenheimer boosted their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $1,155.28.

GE Vernova Price Performance

The company’s 50-day moving average is $1,006.09 and its 200-day moving average is $982.37. The firm has a market capitalization of $245.93 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 4.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. On average, research analysts expect that GE Vernova Inc. will post 15.36 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently made changes to their positions in GEV. California State Teachers Retirement System raised its holdings in shares of GE Vernova by 116,092.4% during the second quarter. California State Teachers Retirement System now owns 483,330,355 shares of the company’s stock worth $567,845,501,000 after purchasing an additional 482,914,381 shares during the period. Auto Owners Insurance Co lifted its holdings in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. BlackRock Inc. acquired a new position in GE Vernova in the second quarter valued at approximately $25,569,630,000. State Street Corp raised its position in shares of GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after purchasing an additional 231,392 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after buying an additional 68,894 shares in the last quarter.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.