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

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $1,450.00 target price on the stock. Guggenheim’s target price would suggest a potential upside of 46.14% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. Jefferies Financial Group reissued a “buy” rating and set a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a research note on Thursday, September 17th. The Goldman Sachs Group upgraded GE Vernova from a “buy” rating to a “market outperform” rating in a report on Monday, September 14th. Royal Bank Of Canada upped their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,165.87.

GE Vernova Price Performance

GEV stock traded down $4.63 during trading on Tuesday, hitting $992.18. The stock had a trading volume of 1,055,988 shares, compared to its average volume of 2,624,336. The company’s 50 day moving average price is $967.54 and its two-hundred day moving average price is $1,000.09. GE Vernova has a 1-year low of $530.16 and a 1-year high of $1,195.94. The stock has a market cap of $264.25 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. 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 (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 earnings per share. On average, sell-side analysts forecast that GE Vernova will post 15.03 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently bought and sold shares of the business. Auto Owners Insurance Co boosted its stake 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 purchasing an additional 34,826,773 shares during the period. BlackRock Inc. purchased a new stake in GE Vernova during the 2nd quarter worth $25,569,630,000. Bank of America Corp DE purchased a new stake in GE Vernova during the 2nd quarter worth $2,961,612,000. Bank of New York Mellon Corp acquired a new position in GE Vernova in the 2nd quarter worth $2,497,472,000. Finally, Jupiter Topco LLC acquired a new position in GE Vernova in the 2nd quarter worth $2,371,538,000.

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.