GE Vernova (NYSE:GEV) Reaches New 12-Month High at $157.25

Shares of GE Vernova Inc. (NYSE:GEV) reached a new 52-week high during trading on Friday . The company traded as high as $157.25 and last traded at $154.24, with a volume of 936944 shares trading hands. The stock had previously closed at $148.31.

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of GE Vernova in a research report on Friday, April 12th. Evercore ISI initiated coverage on shares of GE Vernova in a report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 target price on the stock. Raymond James began coverage on GE Vernova in a research report on Wednesday, April 17th. They issued an “outperform” rating and a $160.00 price objective for the company. Melius began coverage on GE Vernova in a research report on Monday. They issued a “hold” rating and a $147.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of GE Vernova in a report on Tuesday, April 16th. They issued a “buy” rating and a $154.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $157.44.

GE Vernova Stock Performance

GE Vernova (NYSE:GEV) last announced its earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.56 billion.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of GE Vernova in the 1st quarter valued at $478,000. Valeo Financial Advisors LLC acquired a new stake in GE Vernova in the first quarter valued at $673,000. Anderson Hoagland & Co. purchased a new stake in GE Vernova during the 1st quarter worth about $1,720,000. Finally, Maryland State Retirement & Pension System acquired a new position in shares of GE Vernova during the 1st quarter worth about $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.