Barclays Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price target raised by investment analysts at Barclays from $500.00 to $550.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 13.94% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, May 16th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Robert W. Baird raised their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $387.78.

GE Vernova Stock Performance

Shares of GEV traded down $2.27 during trading hours on Monday, hitting $482.73. The stock had a trading volume of 1,066,444 shares, compared to its average volume of 3,283,168. The company’s fifty day simple moving average is $389.72 and its 200 day simple moving average is $360.91. The firm has a market cap of $131.75 billion, a P/E ratio of 86.82, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova has a 12-month low of $150.01 and a 12-month high of $500.72.

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, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the company posted ($0.47) EPS. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently bought and sold shares of the company. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its stake in 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 buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its holdings 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 acquiring an additional 69 shares in the last quarter. Navigoe LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $27,000. Finally, EQ Wealth Advisors LLC acquired a new position in GE Vernova during the 1st quarter worth 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.