GE Vernova (NYSE:GEV) Receives Outperform Rating from William Blair

GE Vernova (NYSE:GEV)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research note issued on Thursday,RTT News reports.

Several other research firms have also recently issued reports on GEV. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Oppenheimer assumed coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Barclays raised their target price on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, HSBC restated a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.48.

GE Vernova Trading Up 2.4 %

Shares of GE Vernova stock traded up $10.27 on Thursday, hitting $437.37. 3,920,447 shares of the company were exchanged, compared to its average volume of 3,074,254. GE Vernova has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a 50-day moving average price of $349.37 and a 200 day moving average price of $269.42.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates 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. Analysts predict that GE Vernova will post 1.96 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC lifted its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova in the third quarter valued at approximately $28,000. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period.

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.