GE Vernova Inc. (NYSE:GEV) Receives $347.83 Average Price Target from Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have earned a consensus rating of “Moderate Buy” from the thirty-three brokerages that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty-two have given a buy recommendation and four have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $349.02.

A number of equities analysts have commented on GEV shares. Morgan Stanley boosted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. BMO Capital Markets lowered their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird started coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $269.89 on Friday. The firm’s 50-day simple moving average is $358.84 and its 200-day simple moving average is $311.18. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a market cap of $74.46 billion and a P/E ratio of 48.54.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC acquired a new stake in GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new position in shares of GE Vernova in the fourth quarter valued at about $27,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.