GE Vernova Inc. (NYSE:GEV) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have received a consensus rating of “Moderate Buy” from the thirty-three brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $349.54.

A number of research firms have weighed in on GEV. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Barclays decreased their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. BMO Capital Markets decreased their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Royal Bank of Canada dropped their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th.

GE Vernova Stock Performance

Shares of GEV opened at $315.55 on Wednesday. The company has a 50-day simple moving average of $341.74 and a 200-day simple moving average of $324.60. The firm has a market capitalization of $87.06 billion and a P/E ratio of 56.75. GE Vernova has a 52 week low of $119.00 and a 52 week high of $447.50.

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

GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GEV. Neville Rodie & Shaw Inc. grew its stake in shares of GE Vernova by 1.0% during the first quarter. Neville Rodie & Shaw Inc. now owns 18,563 shares of the company’s stock worth $5,667,000 after purchasing an additional 185 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of GE Vernova by 24.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,409 shares of the company’s stock worth $430,000 after buying an additional 276 shares during the period. Fulcrum Equity Management increased its stake in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock valued at $291,000 after acquiring an additional 31 shares during the last quarter. M1 Capital Management LLC bought a new position in GE Vernova during the 4th quarter worth approximately $374,000. Finally, DSG Capital Advisors LLC bought a new position in GE Vernova during the 4th quarter worth approximately $269,000.

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.