GE Vernova (NYSE:GEV) Given Buy Rating at Guggenheim

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a note issued to investors on Tuesday, Benzinga reports. They presently have a $1,450.00 target price on the stock. Guggenheim’s target price would suggest a potential upside of 48.27% from the stock’s previous close.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upgraded GE Vernova from a “buy” rating to a “market outperform” rating in a research report on Monday, September 14th. BMO Capital Markets restated an “outperform” rating and set a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a research report on Friday, August 7th. JPMorgan Chase & Co. cut their price target on GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating on the stock in a research note on Friday. Evercore reiterated an “outperform” rating and issued a $1,350.00 price target on shares of GE Vernova in a report on Thursday, October 1st. Finally, Morgan Stanley cut GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,165.87.

GE Vernova Price Performance

Shares of GEV stock traded down $18.84 during trading hours on Tuesday, reaching $977.97. 694,666 shares of the company were exchanged, compared to its average volume of 2,622,417. GE Vernova has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock’s fifty day moving average is $967.54 and its two-hundred day moving average is $1,000.09. The company has a market cap of $260.46 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 3.48 and a beta of 1.14.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business earned $1.86 EPS. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts forecast that GE Vernova will post 15.03 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG grew its position in shares of GE Vernova by 37.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock worth $27,116,000 after buying an additional 6,313 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $8,337,000. Sapient Capital LLC raised its position in shares of GE Vernova by 31.4% in the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock valued at $89,372,000 after acquiring an additional 18,188 shares during the period. Processus Wealth & Capital Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $2,699,000. Finally, Field & Main Bank bought a new position in GE Vernova during the 2nd quarter worth approximately $3,018,000.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.