GE Vernova (NYSE:GEV) Price Target Raised to $500.00 at Barclays

GE Vernova (NYSE:GEV - Get Free Report) had its target price increased by investment analysts at Barclays from $427.00 to $500.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 6.96% from the company's previous close.

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Other equities analysts have also recently issued reports about the company. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. JPMorgan Chase & Co. raised their price target on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Robert W. Baird boosted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, BMO Capital Markets cut their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average target price of $381.70.

View Our Latest Stock Analysis on GEV

GE Vernova Stock Down 0.8%

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GEV stock traded down $3.68 on Friday, reaching $467.49. 1,483,497 shares of the company's stock were exchanged, compared to its average volume of 3,337,600. The stock has a fifty day moving average of $369.12 and a 200-day moving average of $354.21. The firm has a market cap of $127.59 billion and a PE ratio of 83.92. GE Vernova has a twelve month low of $150.01 and a twelve month high of $489.13.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

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A number of hedge funds have recently made changes to their positions in GEV. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Capital International Investors grew its position in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after acquiring an additional 1,238,690 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter.

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.

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