GE Vernova (NYSE:GEV) Earns Buy Rating from Guggenheim

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $380.00 price target on the stock. Guggenheim’s price target suggests a potential upside of 17.24% from the stock’s current price.

GEV has been the subject of a number of other research reports. Jefferies Financial Group lifted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Robert W. Baird lowered their target price on GE Vernova from $448.00 to $387.00 and set an “outperform” rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $343.66.

GE Vernova Stock Performance

GE Vernova stock traded down $3.80 on Thursday, reaching $324.12. The company’s stock had a trading volume of 1,341,245 shares, compared to its average volume of 3,378,933. The business’s fifty day moving average price is $323.91 and its 200 day moving average price is $328.68. The company has a market cap of $88.60 billion and a price-to-earnings ratio of 58.46. GE Vernova has a twelve month low of $131.25 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released its 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 business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter valued at about $25,000. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its stake in shares of GE Vernova by 530.8% during the 4th 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 position in GE Vernova during the fourth quarter valued at about $27,000.

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.