GE Vernova (NYSE:GEV) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

GE Vernova (NYSE:GEV) had its price target increased by BMO Capital Markets from $360.00 to $420.00 in a research note issued to investors on Tuesday. BMO Capital Markets’ price target suggests a potential downside of 1.60% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on GEV. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Oppenheimer began coverage on GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating on the stock. Jefferies Financial Group boosted their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial increased their price target on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Guggenheim reduced their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Price Performance

NYSE GEV opened at $426.84 on Tuesday. The company has a 50 day simple moving average of $347.50 and a 200-day simple moving average of $268.31. GE Vernova has a 52-week low of $115.00 and a 52-week high of $434.10.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova will post 1.96 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a stock buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in GEV. Mayflower Financial Advisors LLC raised its stake in shares of GE Vernova by 2.9% in the fourth quarter. Mayflower Financial Advisors LLC now owns 2,662 shares of the company’s stock valued at $876,000 after acquiring an additional 75 shares during the last quarter. BSW Wealth Partners acquired a new stake in GE Vernova during the 4th quarter valued at $258,000. Perigon Wealth Management LLC raised its position in GE Vernova by 29.9% in the 4th quarter. Perigon Wealth Management LLC now owns 4,670 shares of the company’s stock valued at $1,536,000 after purchasing an additional 1,074 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in GE Vernova in the fourth quarter worth $439,000. Finally, Legacy Bridge LLC grew its holdings in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the last quarter.

GE Vernova Company Profile

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.