GE Vernova (NYSE:GEV) Stock Keeps “Buy” Rating at Guggenheim

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $1,450.00 price objective on the stock. Guggenheim’s price target indicates a potential upside of 46.50% from the company’s current price.

A number of other research firms have also issued reports on GEV. BMO Capital Markets reiterated an “outperform” rating and issued a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a research note on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Evercore reiterated an “outperform” rating and set a $1,350.00 target price on shares of GE Vernova in a report on Thursday, October 1st. Finally, Mizuho raised their target price on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Two research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,165.87.

GE Vernova Trading Down 0.7%

Shares of NYSE:GEV traded down $7.01 during trading on Tuesday, reaching $989.79. 1,018,255 shares of the stock were exchanged, compared to its average volume of 2,624,156. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm has a market cap of $263.61 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. The firm’s 50-day moving average price is $967.54 and its 200 day moving average price is $1,000.09.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Vernova will post 15.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Auto Owners Insurance Co lifted its holdings in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the period. BlackRock Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at $25,569,630,000. Bank of America Corp DE acquired a new stake in shares of GE Vernova in the second quarter valued at $2,961,612,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova in the second quarter valued at $2,497,472,000. Finally, Jupiter Topco LLC acquired a new stake in shares of GE Vernova in the second quarter valued at $2,371,538,000.

About GE Vernova

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.