Wall Street Zen Upgrades GE Vernova (NYSE:GEV) to Buy

GE Vernova (NYSE:GEV) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other analysts have also recently commented on the company. BMO Capital Markets upped their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Wells Fargo & Company upped their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Barclays increased their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Robert W. Baird boosted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Up 1.4%

GEV traded up $15.38 during trading on Friday, hitting $1,090.64. 1,737,069 shares of the company’s stock traded hands, compared to its average volume of 2,887,361. The company’s 50 day simple moving average is $1,040.14 and its two-hundred day simple moving average is $895.32. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova has a 12-month low of $530.16 and a 12-month high of $1,195.94. The stock has a market capitalization of $293.08 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company earned $0.91 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts predict that GE Vernova will post 15.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the third quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC lifted its stake in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the last quarter. Finally, ORG Wealth Partners LLC boosted its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares during the period.

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.