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

GE Vernova (NYSE:GEV)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a report released on Tuesday, Benzinga reports. They presently have a $1,450.00 price target on the stock. Guggenheim’s price objective suggests a potential upside of 44.61% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $1,250.00 price target (up from $1,110.00) on shares of GE Vernova in a research note on Friday, August 7th. Mizuho boosted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, BNP Paribas Exane lowered their price objective on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,165.87.

GE Vernova Price Performance

GEV stock traded up $5.92 during midday trading on Tuesday, reaching $1,002.72. The company had a trading volume of 1,898,048 shares, compared to its average volume of 2,628,845. 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 has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a market capitalization of $267.05 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.48 and a beta of 1.14. The firm has a 50-day moving average price of $967.20 and a 200-day moving average price of $1,000.65.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. On average, research analysts anticipate that GE Vernova will post 15.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co raised its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. BlackRock Inc. bought a new stake in GE Vernova during the 2nd quarter valued at $25,569,630,000. State Street Corp raised its holdings in GE Vernova by 3.3% during the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after buying an additional 370,842 shares during the last quarter. Bank of America Corp DE raised its holdings in GE Vernova by 20.1% during the 1st quarter. Bank of America Corp DE now owns 2,598,178 shares of the company’s stock valued at $2,267,949,000 after buying an additional 435,405 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in GE Vernova during the 2nd quarter valued at $2,497,472,000.

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.