Jefferies Financial Group Raises GE Vernova (NYSE:GEV) Price Target to $413.00

GE Vernova (NYSE:GEV) had its price target upped by equities research analysts at Jefferies Financial Group from $391.00 to $413.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 35.49% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada reduced their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Trading Down 4.1 %

Shares of GE Vernova stock traded down $12.89 during trading hours on Thursday, reaching $304.81. 2,194,338 shares of the company’s stock were exchanged, compared to its average volume of 4,093,655. The stock has a market cap of $84.10 billion and a P/E ratio of 54.82. The company has a 50 day moving average of $349.42 and a two-hundred day moving average of $321.12. GE Vernova has a fifty-two week low of $119.00 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 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. 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 purchasing an additional 31 shares during the last quarter. M1 Capital Management LLC bought a new position in GE Vernova in the fourth quarter valued at about $374,000. DSG Capital Advisors LLC bought a new position in GE Vernova in the fourth quarter valued at about $269,000. Chancellor Financial Group WB LP acquired a new position in GE Vernova during the fourth quarter worth about $258,000. Finally, CWC Advisors LLC. lifted its holdings in shares of GE Vernova by 2.0% in the fourth quarter. CWC Advisors LLC. now owns 1,870 shares of the company’s stock worth $615,000 after acquiring an additional 36 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.