GE Vernova (NYSE:GEV) Trading Down 0.8%

GE Vernova Inc. (NYSE:GEV)’s stock price was down 0.8% during trading on Wednesday . The company traded as low as $164.32 and last traded at $166.06. Approximately 1,111,117 shares changed hands during trading, a decline of 82% from the average daily volume of 6,025,358 shares. The stock had previously closed at $167.36.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEV. Evercore ISI initiated coverage on shares of GE Vernova in a research report on Thursday, April 18th. They set an “outperform” rating and a $174.00 price objective for the company. Melius initiated coverage on shares of GE Vernova in a research report on Monday, April 22nd. They set a “hold” rating and a $147.00 target price on the stock. Mizuho increased their price objective on GE Vernova from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 target price on shares of GE Vernova in a report on Friday, April 12th. Finally, BNP Paribas initiated coverage on GE Vernova in a research note on Wednesday, April 17th. They set an “outperform” rating and a $177.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $158.56.

GE Vernova Stock Performance

GE Vernova (NYSE:GEV) last released 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 business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, analysts predict that GE Vernova Inc. will post 2.95 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd purchased a new stake in GE Vernova in the 1st quarter valued at $30,000. Boit C F David purchased a new position in GE Vernova during the 1st quarter valued at about $149,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in GE Vernova during the 1st quarter worth approximately $478,000. Valeo Financial Advisors LLC purchased a new stake in GE Vernova during the 1st quarter worth about $673,000. Finally, Anderson Hoagland & Co. purchased a new stake in shares of GE Vernova during the 1st quarter worth $1,720,000.

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.