Raymond James Downgrades GE Vernova (NYSE:GEV) to Market Perform

Raymond James downgraded shares of GE Vernova (NYSE:GEV) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, Marketbeat reports.

Several other research firms have also weighed in on GEV. Barclays started coverage on shares of GE Vernova in a report on Monday, September 16th. They issued an overweight rating and a $250.00 target price on the stock. Redburn Atlantic assumed coverage on GE Vernova in a research note on Tuesday, July 2nd. They set a neutral rating and a $178.00 price objective on the stock. Bank of America upgraded GE Vernova from a neutral rating to a buy rating and upped their price objective for the company from $200.00 to $300.00 in a research note on Tuesday, September 17th. Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a market perform rating on the stock. Finally, Mizuho increased their price objective on GE Vernova from $186.00 to $208.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $234.98.

GE Vernova Stock Up 4.3 %

Shares of GEV opened at $265.59 on Wednesday. The company has a fifty day simple moving average of $205.35. GE Vernova has a 52-week low of $115.00 and a 52-week high of $266.42.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, equities research analysts forecast that GE Vernova will post 2.83 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after buying an additional 61 shares during the period. Stonehearth Capital Management LLC grew its holdings in shares of GE Vernova by 6.1% in the third quarter. Stonehearth Capital Management LLC now owns 1,474 shares of the company’s stock valued at $376,000 after acquiring an additional 85 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of GE Vernova by 9.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,094 shares of the company’s stock worth $279,000 after purchasing an additional 95 shares during the period. Wedmont Private Capital grew its position in shares of GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after acquiring an additional 109 shares during the period. Finally, Quent Capital LLC grew its stake in shares of GE Vernova by 18.6% during the 3rd quarter. Quent Capital LLC now owns 709 shares of the company’s stock worth $181,000 after acquiring an additional 111 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.