Morgan Stanley Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price objective raised by equities researchers at Morgan Stanley from $817.00 to $960.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 7.25% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Robert W. Baird set a $923.00 price objective on GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. BMO Capital Markets reissued an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Erste Group Bank initiated coverage on shares of GE Vernova in a research note on Thursday, March 5th. They set a “buy” rating on the stock. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Finally, Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and upped their target price for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $837.25.

GE Vernova Trading Up 5.2%

GEV stock traded up $44.04 during mid-day trading on Monday, hitting $895.11. 2,416,392 shares of the company were exchanged, compared to its average volume of 2,882,080. The firm has a fifty day simple moving average of $779.34 and a 200 day simple moving average of $672.80. The company has a market capitalization of $241.26 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 3.39 and a beta of 1.44. GE Vernova has a twelve month low of $252.25 and a twelve month high of $920.63.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GEV. Brighton Jones LLC lifted its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. raised its position in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in GE Vernova by 6.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,058 shares of the company’s stock valued at $560,000 after acquiring an additional 68 shares during the last quarter. Cozad Asset Management Inc. acquired a new stake in GE Vernova in the 2nd quarter valued at about $322,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of GE Vernova by 13.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 6,519 shares of the company’s stock valued at $3,450,000 after purchasing an additional 761 shares in the last quarter.

GE Vernova Company Profile

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.