GE Vernova (NYSE:GEV) Price Target Raised to $436.00

GE Vernova (NYSE:GEV) had its price objective raised by analysts at JPMorgan Chase & Co. from $374.00 to $436.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 2.15% from the stock’s previous close.

GEV has been the subject of several other research reports. BMO Capital Markets lifted their price target on shares of GE Vernova from $360.00 to $420.00 in a research report on Tuesday. Barclays upped their target price on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Finally, Guggenheim lowered their price target on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $335.40.

GE Vernova Price Performance

GEV opened at $426.84 on Thursday. The company’s 50 day simple moving average is $349.37 and its 200-day simple moving average is $269.42. GE Vernova has a one year low of $115.00 and a one year high of $434.10.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova will post 1.96 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of GE Vernova

Large investors have recently modified their holdings of the stock. Waverton Investment Management Ltd grew its stake in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $1,101,000. Atria Investments Inc raised its position in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Fractal Investments LLC bought a new stake in GE Vernova during the third quarter worth $1,530,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $293,699,000.

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.