Guggenheim Reaffirms “Buy” Rating for GE Vernova (NYSE:GEV)

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating restated by Guggenheim in a report issued on Thursday,Benzinga reports. They presently have a $380.00 target price on the stock. Guggenheim’s price target suggests a potential upside of 1.98% from the company’s previous close.

Several other analysts have also recently issued reports on GEV. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. cut their price objective on shares of GE Vernova from $436.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Citigroup reduced their price objective on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Price Performance

GEV opened at $372.62 on Thursday. GE Vernova has a 12 month low of $149.42 and a 12 month high of $447.50. The business has a 50-day moving average of $318.90 and a two-hundred day moving average of $332.43. The stock has a market capitalization of $101.85 billion and a price-to-earnings ratio of 67.02.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.46. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. During the same period in the previous year, the company earned ($0.47) EPS. Equities research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its position 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 buying an additional 39 shares during the period. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $25,000. Fairway Wealth LLC raised its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new stake in GE Vernova during the 4th quarter worth about $27,000.

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.