GE Vernova Inc. (NYSE:GEV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned a consensus rating of “Moderate Buy” from the thirty-three analysts that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $349.02.

Several equities research analysts have recently weighed in on the stock. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Barclays dropped their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets cut their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

GE Vernova Stock Performance

Shares of GEV stock opened at $298.72 on Friday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a market capitalization of $82.42 billion and a P/E ratio of 53.73. The company has a 50 day moving average price of $357.33 and a 200 day moving average price of $311.79.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of GE Vernova

Institutional investors have recently bought and sold shares of the stock. Howard Capital Management Group LLC acquired a new position in GE Vernova in the third quarter valued at about $213,000. Janney Montgomery Scott LLC raised its stake in shares of GE Vernova by 16.6% during the third quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company’s stock worth $9,789,000 after buying an additional 5,472 shares during the last quarter. Catalina Capital Group LLC acquired a new stake in shares of GE Vernova during the third quarter worth $202,000. Forte Capital LLC ADV acquired a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $231,000. Finally, Graypoint LLC grew its holdings in shares of GE Vernova by 18.7% in the 3rd quarter. Graypoint LLC now owns 2,150 shares of the company’s stock valued at $548,000 after buying an additional 338 shares during the period.

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.