GE Vernova (NYSE:GEV) Now Covered by CICC Research

Stock analysts at CICC Research assumed coverage on shares of GE Vernova (NYSE:GEV) in a research report issued on Wednesday,Benzinga reports. The firm set an “outperform” rating on the stock.

Several other equities analysts also recently issued reports on GEV. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Finally, BMO Capital Markets lifted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Price Performance

GE Vernova stock opened at $359.57 on Wednesday. The company has a market capitalization of $99.21 billion and a PE ratio of 64.67. GE Vernova has a one year low of $115.00 and a one year high of $447.50. The business has a 50 day simple moving average of $364.50 and a 200 day simple moving average of $298.16.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

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% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter worth about $25,000. Fairway Wealth LLC lifted its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its holdings 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 in the last quarter. Finally, Navigoe LLC bought a new position in GE Vernova during the fourth quarter worth about $27,000.

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.