CICC Research Initiates Coverage on GE Vernova (NYSE:GEV)

Equities research analysts at CICC Research began coverage on shares of GE Vernova (NYSE:GEV) in a research report issued on Wednesday,Benzinga reports. The firm set an “outperform” rating on the stock.

Other equities analysts have also issued research reports about the stock. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Up 1.4 %

NYSE GEV opened at $372.59 on Wednesday. The business’s 50-day moving average price is $363.28 and its 200 day moving average price is $297.19. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market capitalization of $102.80 billion and a PE ratio of 67.01.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts predict that GE Vernova will post 6.59 EPS for the current year.

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

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% during the fourth 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. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% in the 4th 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 period. Pineridge Advisors LLC grew its position in shares of GE Vernova by 530.8% during the 4th 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 shares of GE Vernova during the 4th quarter valued at about $27,000.

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.