GE Vernova’s (GEV) “Buy” Rating Reaffirmed at Guggenheim

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research report issued on Tuesday, Benzinga reports. They currently have a $1,450.00 target price on the stock. Guggenheim’s price objective points to a potential upside of 45.86% from the company’s previous close.

Several other research firms also recently issued reports on GEV. The Goldman Sachs Group upgraded GE Vernova from a “buy” rating to a “market outperform” rating in a report on Monday, September 14th. BNP Paribas Exane lowered their price objective on GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a report on Tuesday, September 15th. JPMorgan Chase & Co. lowered their price objective on GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer boosted their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,165.87.

GE Vernova Stock Down 0.3%

NYSE:GEV traded down $2.68 during mid-day trading on Tuesday, hitting $994.12. The company had a trading volume of 1,092,442 shares, compared to its average volume of 2,624,506. The business has a fifty day simple moving average of $967.54 and a 200-day simple moving average of $1,000.09. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova has a 1 year low of $530.16 and a 1 year high of $1,195.94. The firm has a market capitalization of $264.76 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 3.48 and a beta of 1.14.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.79 billion. During the same period last year, the business earned $1.86 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts forecast that GE Vernova will post 15.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently made changes to their positions in the stock. Cascade Investment Group Inc. acquired a new position in shares of GE Vernova during the third quarter worth approximately $229,000. First County Bank CT acquired a new position in shares of GE Vernova during the third quarter worth approximately $259,000. Ring Mountain Capital LLC boosted its position in shares of GE Vernova by 9.5% during the third quarter. Ring Mountain Capital LLC now owns 683 shares of the company’s stock worth $649,000 after buying an additional 59 shares during the period. Steel Grove Capital Advisors LLC acquired a new position in shares of GE Vernova during the third quarter worth approximately $560,000. Finally, McCollum Christoferson Group LLC boosted its position in shares of GE Vernova by 28.0% during the third quarter. McCollum Christoferson Group LLC now owns 302 shares of the company’s stock worth $287,000 after buying an additional 66 shares during the period.

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.