GE Vernova Inc. (NYSE:GEV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned an average rating of “Moderate Buy” from the thirty-four analysts that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $349.20.

Several brokerages recently commented on GEV. JPMorgan Chase & Co. raised their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Finally, Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently modified their holdings of the stock. Cedar Mountain Advisors LLC boosted its stake 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 during the period. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Finally, Navigoe LLC bought a new position in GE Vernova during the fourth quarter worth about $27,000.

GE Vernova Trading Down 8.8 %

GE Vernova stock opened at $271.40 on Wednesday. The firm has a market capitalization of $74.19 billion and a P/E ratio of 48.81. The business has a 50-day moving average of $334.07 and a 200-day moving average of $325.98. GE Vernova has a 1 year low of $125.86 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.