GE Vernova (NYSE:GEV) Stock Price Down 1.3% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) was down 1.3% during mid-day trading on Thursday . The stock traded as low as $328.82 and last traded at $328.92. Approximately 538,526 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,515,877 shares. The stock had previously closed at $333.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial lifted their target price on GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets increased their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Evercore ISI lifted their price objective on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Trading Down 1.5 %

The company’s fifty day simple moving average is $268.31 and its two-hundred day simple moving average is $206.42.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently made changes to their positions in GEV. FMR LLC boosted its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. Newport Trust Company LLC acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova during the 2nd quarter worth about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova in the first quarter worth approximately $367,474,000. Finally, WCM Investment Management LLC grew its holdings in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 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.