GE Vernova (NYSE:GEV) Sets New 52-Week High - Here's Why

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $301.53 and last traded at $296.33, with a volume of 182344 shares traded. The stock had previously closed at $298.77.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a "neutral" rating and a $178.00 price objective for the company. Hsbc Global Res lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. William Blair assumed coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an "outperform" rating on the stock. Finally, Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a "market perform" rating for the company. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

GE Vernova Trading Down 0.4 %

The business has a fifty day moving average of $239.51 and a 200-day moving average of $192.87.

Institutional Trading of GE Vernova

A number of large investors have recently added to or reduced their stakes in the business. Castleview Partners LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth $28,000. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC purchased a new position in GE Vernova in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in GE Vernova during the 2nd quarter worth about $25,000. Finally, Global Trust Asset Management LLC purchased a new stake in GE Vernova during the second quarter valued at about $26,000.

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.