GE Vernova (NYSE:GEV) Given New $487.00 Price Target at Barclays

GE Vernova (NYSE:GEV) had its price objective increased by Barclays from $420.00 to $487.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 14.09% from the stock’s previous close.

GEV has been the topic of several other reports. Wolfe Research started coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. The Goldman Sachs Group boosted their target price on GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley increased their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Truist Financial upped their price objective on GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $335.40.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $426.84 on Thursday. GE Vernova has a 1 year low of $115.00 and a 1 year high of $434.10. The company’s fifty day moving average is $349.37 and its two-hundred day moving average is $269.42.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova will post 1.96 earnings per share for the current year.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at $2,507,296,000. Legal & General Group Plc acquired a new position in GE Vernova in the second quarter valued at $293,699,000. Electron Capital Partners LLC lifted its position in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after buying an additional 1,596,996 shares during the period. International Assets Investment Management LLC boosted its stake in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after buying an additional 1,431,729 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in 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 buying an additional 1,161,901 shares during 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.