GE Vernova (NYSE:GEV) Hits New 1-Year High at $167.17

GE Vernova Inc. (NYSE:GEV)’s stock price hit a new 52-week high on Friday . The company traded as high as $167.17 and last traded at $166.26, with a volume of 4627851 shares trading hands. The stock had previously closed at $153.83.

Analysts Set New Price Targets

Several brokerages have commented on GEV. Bank of America assumed coverage on shares of GE Vernova in a research note on Wednesday, April 24th. They issued a “neutral” rating and a $150.00 target price for the company. BNP Paribas started coverage on GE Vernova in a report on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 price target for the company. Melius assumed coverage on GE Vernova in a report on Monday, April 22nd. They set a “hold” rating and a $147.00 price objective on the stock. JPMorgan Chase & Co. upgraded GE Vernova from a “neutral” rating to an “overweight” rating and set a $141.00 target price for the company in a report on Monday, April 8th. Finally, Mizuho upped their price target on GE Vernova from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $158.56.

GE Vernova Stock Up 8.1 %

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.56 billion. Equities research analysts anticipate that GE Vernova Inc. will post 2.98 earnings per share for the current year.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently modified their holdings of the business. Boit C F David bought a new stake in GE Vernova during the 1st quarter valued at $149,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of GE Vernova in the 1st quarter worth about $478,000. Valeo Financial Advisors LLC bought a new stake in GE Vernova during the 1st quarter worth approximately $673,000. Anderson Hoagland & Co. purchased a new stake in shares of GE Vernova in the first quarter worth approximately $1,720,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of GE Vernova during the first quarter valued at approximately $2,892,000.

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.