GE Vernova Inc. (NYSE:GEV) Receives Consensus Rating of “Moderate Buy” from Analysts

GE Vernova Inc. (NYSE:GEV) has earned an average rating of “Moderate Buy” from the thirty brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $1,133.1538.

A number of research firms recently weighed in on GEV. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. TD Cowen raised their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th.

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the business. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at $25,000. Wealth Watch Advisors INC acquired a new position in GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in GE Vernova during the 4th quarter worth $26,000. Manning & Napier Advisors LLC increased its position in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the 4th quarter worth about $27,000.

GE Vernova Stock Down 1.0%

NYSE GEV opened at $956.69 on Friday. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21. GE Vernova has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The business has a 50 day moving average price of $1,042.72 and a two-hundred day moving average price of $968.13. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $10.79 billion. During the same period last year, the business earned $1.86 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova will post 15.57 EPS for the current fiscal year.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.