GE Vernova (NYSE:GEV) Price Target Raised to $413.00

GE Vernova (NYSE:GEV) had its target price raised by Jefferies Financial Group from $391.00 to $413.00 in a report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

GEV has been the topic of a number of other reports. Bank of America lifted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada cut their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, 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 report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $302.71 on Thursday. The stock has a market cap of $83.52 billion and a price-to-earnings ratio of 54.44. GE Vernova has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The firm’s 50-day simple moving average is $345.68 and its 200 day simple moving average is $322.53.

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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in 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 worth $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Finally, Navigoe LLC purchased a new position in GE Vernova during the fourth quarter valued at approximately $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.