GE Vernova Inc. (NYSE:GEV) Receives $347.83 Consensus PT from Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-three ratings firms that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $349.02.

A number of equities analysts recently commented on the stock. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $298.72 on Friday. The stock’s 50-day moving average is $357.33 and its 200-day moving average is $311.79. The firm has a market cap of $82.42 billion and a price-to-earnings ratio of 53.73. GE Vernova has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that GE Vernova will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Howard Capital Management Group LLC acquired a new position in GE Vernova during the 3rd quarter valued at about $213,000. Janney Montgomery Scott LLC grew its position in shares of GE Vernova by 16.6% in the third quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company’s stock valued at $9,789,000 after purchasing an additional 5,472 shares during the period. Catalina Capital Group LLC purchased a new position in shares of GE Vernova in the third quarter valued at approximately $202,000. Forte Capital LLC ADV acquired a new position in GE Vernova during the third quarter worth about $231,000. Finally, Graypoint LLC lifted its stake in GE Vernova by 18.7% in the 3rd quarter. Graypoint LLC now owns 2,150 shares of the company’s stock worth $548,000 after purchasing an additional 338 shares in the last quarter.

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.