GE Vernova Inc. (NYSE:GEV) Receives Consensus Rating of “Moderate Buy” from Analysts

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

GEV has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Barclays cut their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a research report on Wednesday, March 5th.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC bought a new stake in GE Vernova in the 3rd quarter valued at $2,507,296,000. Norges Bank acquired a new stake in GE Vernova during the fourth quarter worth about $1,109,720,000. Capital International Investors grew its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the period. Finally, WCM Investment Management LLC lifted its position in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares during the period.

GE Vernova Price Performance

Shares of NYSE GEV opened at $313.76 on Friday. GE Vernova has a 1-year low of $119.00 and a 1-year high of $447.50. The company has a market capitalization of $86.57 billion and a price-to-earnings ratio of 56.43. The business has a 50-day moving average of $355.75 and a 200-day moving average of $312.63.

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

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is 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.