GE Vernova (NYSE:GEV) Trading Down 3.9% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares fell 3.9% during mid-day trading on Monday . The stock traded as low as $334.72 and last traded at $335.50. 879,478 shares changed hands during trading, a decline of 75% from the average session volume of 3,475,136 shares. The stock had previously closed at $349.16.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. HSBC reiterated a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Oppenheimer initiated coverage on GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada raised their price target on shares of GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Price Performance

The firm’s 50-day moving average is $290.36 and its 200-day moving average is $217.76.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp boosted its stake in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new position in GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC increased its stake in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $650,140,000.

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.