GE Vernova (NYSE:GEV) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of GE Vernova (NYSE:GEV) in a research note published on Friday, Benzinga reports. Royal Bank of Canada currently has a $262.00 price objective on the stock.

Several other brokerages have also weighed in on GEV. William Blair initiated coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. HSBC reissued a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $300.00 in a research report on Tuesday, September 17th. Finally, Daiwa Capital Markets assumed coverage on GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective on the stock. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $246.73.

GE Vernova Trading Up 0.3 %

NYSE:GEV opened at $272.92 on Friday. GE Vernova has a one year low of $115.00 and a one year high of $281.37. The company has a fifty day moving average price of $224.93 and a 200 day moving average price of $184.85.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, equities analysts expect that GE Vernova will post 3.21 EPS for the current fiscal year.

Institutional Trading of GE Vernova

Several hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its holdings in GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after buying an additional 40 shares in the last quarter. First Bancorp Inc ME lifted its stake in shares of GE Vernova by 3.1% during the third quarter. First Bancorp Inc ME now owns 1,450 shares of the company’s stock valued at $370,000 after acquiring an additional 44 shares during the period. Miracle Mile Advisors LLC lifted its stake in shares of GE Vernova by 1.8% during the third quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock valued at $706,000 after acquiring an additional 48 shares during the period. Merrion Investment Management Co LLC increased its position in GE Vernova by 0.8% in the third quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock worth $1,594,000 after purchasing an additional 50 shares during the period. Finally, Parisi Gray Wealth Management increased its position in GE Vernova by 3.5% in the third quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock worth $380,000 after purchasing an additional 51 shares during the period.

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.