GE Vernova Inc. (NYSE:GEV) Receives $349.54 Consensus Target Price from Brokerages

Shares of GE Vernova Inc. (NYSE:GEV) have received an average recommendation of “Moderate Buy” from the thirty-four brokerages that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $349.20.

Several equities analysts have recently issued reports on the company. Barclays decreased their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company lifted 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. Citigroup increased their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Robert W. Baird initiated coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Finally, Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC grew its holdings in 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 purchasing an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in GE Vernova in the fourth quarter valued at $27,000.

GE Vernova Stock Down 8.8 %

GEV stock opened at $271.40 on Wednesday. GE Vernova has a 52 week low of $125.86 and a 52 week high of $447.50. The business has a 50-day simple moving average of $334.07 and a 200 day simple moving average of $325.98. The company has a market cap of $74.19 billion and a PE ratio of 48.81.

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

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

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.