Barclays Boosts GE Vernova (NYSE:GEV) Price Target to $580.00

GE Vernova (NYSE:GEV - Get Free Report) had its target price upped by equities researchers at Barclays from $550.00 to $580.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 8.44% from the stock's current price.

GEV has been the topic of a number of other reports. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Wall Street Zen upgraded GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird lifted their price target on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, TD Cowen lowered their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $451.38.

GE Vernova Trading Up 0.9%

Shares of NYSE GEV traded up $4.87 during mid-day trading on Wednesday, reaching $534.87. The company had a trading volume of 2,294,213 shares, compared to its average volume of 3,317,142. The stock has a market cap of $145.98 billion, a PE ratio of 77.07, a P/E/G ratio of 4.08 and a beta of 1.86. The company has a 50-day moving average price of $467.60 and a two-hundred day moving average price of $385.87. GE Vernova has a 1-year low of $150.01 and a 1-year high of $545.30.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. On average, research analysts expect that GE Vernova will post 6.59 EPS for the current year.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Capital International Investors boosted its stake in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its holdings in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Finally, Norges Bank bought a new position in GE Vernova in the 4th quarter worth approximately $1,109,720,000.

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.