GE Vernova (NYSE:GEV) Given Buy Rating at Guggenheim

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a note issued to investors on Tuesday, Benzinga reports. They currently have a $1,450.00 price target on the stock. Guggenheim’s price objective would suggest a potential upside of 46.55% from the stock’s previous close.

A number of other analysts have also recently issued reports on GEV. Glj Research began coverage on GE Vernova in a research note on Monday, September 14th. They set a “sell” rating and a $470.00 target price for the company. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a research note on Friday, August 7th. Citigroup reduced their target price on shares of GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Finally, Mizuho upped their target price on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,165.87.

GE Vernova Trading Down 0.7%

Shares of GE Vernova stock traded down $7.37 during trading hours on Tuesday, hitting $989.43. The company’s stock had a trading volume of 920,309 shares, compared to its average volume of 2,623,221. GE Vernova has a 12 month low of $530.16 and a 12 month high of $1,195.94. The stock has a 50 day moving average of $967.54 and a 200 day moving average of $1,000.09. The company has a market capitalization of $263.52 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the firm earned $1.86 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts predict that GE Vernova will post 15.03 earnings per share for the current year.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEV. Parvin Asset Management LLC bought a new stake in GE Vernova in the second quarter worth $32,000. Pingora Partners LLC bought a new stake in GE Vernova in the second quarter worth $36,000. Manning & Napier Advisors LLC lifted its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in GE Vernova in the second quarter worth $39,000. Finally, Miller Global Investments LLC lifted its stake in GE Vernova by 63.6% in the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after purchasing an additional 14 shares during the last quarter.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.