GE Vernova (NYSE:GEV) Stock Price Target Cut by JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $1,330.00 to $1,150.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 14.56% from the stock’s previous close.

A number of other research analysts also recently commented on GEV. Guggenheim increased their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. Glj Research began coverage on GE Vernova in a research note on Monday, September 14th. They issued a “sell” rating and a $470.00 target price on the stock. Evercore restated an “outperform” rating and issued a $1,350.00 target price on shares of GE Vernova in a research report on Thursday, October 1st. Finally, Mizuho boosted their price target on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,165.87.

GE Vernova Stock Up 0.4%

NYSE:GEV traded up $4.48 during mid-day trading on Friday, hitting $1,003.83. The company had a trading volume of 871,041 shares, compared to its average volume of 2,639,816. The business has a fifty day simple moving average of $967.51 and a 200-day simple moving average of $998.61. The firm has a market capitalization of $267.36 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 3.48 and a beta of 1.14. GE Vernova has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the business earned $1.86 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts forecast that GE Vernova will post 14.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $25,000. Manning & Napier Advisors LLC boosted its position in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares during the period. Parvin Asset Management LLC bought a new position in GE Vernova during the second quarter worth $32,000. Motiv8 Investments LLC acquired a new position in GE Vernova during the 4th quarter valued at $34,000. Finally, Financially Speaking Inc grew its position in GE Vernova by 1,666.7% during the fourth quarter. Financially Speaking Inc now owns 53 shares of the company’s stock worth $35,000 after buying an additional 50 shares in the last quarter.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.