GE Vernova (NYSE:GEV) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

GE Vernova (NYSE:GEV) had its target price lifted by The Goldman Sachs Group from $446.00 to $500.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 19.25% from the stock’s current price.

Several other equities analysts have also recently issued reports on GEV. Wells Fargo & Company lifted their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. BMO Capital Markets lifted their target price on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup lifted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $339.73.

GE Vernova Stock Down 4.2 %

GEV stock opened at $419.27 on Friday. The company has a 50-day simple moving average of $353.38 and a 200 day simple moving average of $272.29. The company has a market capitalization of $115.57 billion and a P/E ratio of 75.41. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that GE Vernova will post 6.61 EPS for the current year.

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

Institutional Trading of GE Vernova

A number of institutional investors have recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC lifted its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new stake in GE Vernova during the second quarter valued at approximately $29,000. Covestor Ltd grew its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth about $31,000.

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.