Royal Bank of Canada Has Lowered Expectations for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price objective decreased by investment analysts at Royal Bank of Canada from $453.00 to $445.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 32.68% from the stock’s current price.

A number of other research analysts have also recently weighed in on GEV. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price on the stock. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Stock Up 5.2 %

Shares of NYSE:GEV opened at $335.38 on Tuesday. The company has a market cap of $92.53 billion and a P/E ratio of 60.32. GE Vernova has a 52 week low of $119.00 and a 52 week high of $447.50. The business has a fifty day simple moving average of $353.42 and a 200-day simple moving average of $316.38.

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

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC increased its holdings 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 buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new stake in GE Vernova in the fourth quarter valued at about $25,000. Fairway Wealth LLC increased its holdings 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 buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its holdings 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 buying an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new stake in 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.