GE Vernova (NYSE:GEV) Price Target Raised to $1,330.00

GE Vernova (NYSE:GEVGet Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $1,302.00 to $1,330.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 28.23% from the company’s current price.

Several other equities analysts have also recently commented on GEV. Morgan Stanley increased their price target on shares of GE Vernova from $1,250.00 to $1,350.00 and gave the stock an “overweight” rating in a research report on Thursday. Guggenheim increased their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna set a $1,300.00 target price on GE Vernova in a research report on Thursday, April 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,124.12.

Check Out Our Latest Stock Report on GEV

GE Vernova Stock Up 5.3%

Shares of NYSE GEV traded up $52.15 during trading on Thursday, reaching $1,037.18. 2,366,235 shares of the stock were exchanged, compared to its average volume of 2,806,196. The company has a market capitalization of $278.71 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The business’s 50-day moving average price is $1,036.29 and its 200 day moving average price is $918.91. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova has a twelve month low of $530.16 and a twelve month high of $1,195.94.

GE Vernova (NYSE:GEVGet Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same period last year, the firm earned $1.86 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities analysts forecast that GE Vernova will post 15.06 EPS for the current fiscal year.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

Institutional Trading of GE Vernova

Several large investors have recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC acquired a new position in GE Vernova during the 4th quarter worth $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter valued at $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC lifted its holdings 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 period. Finally, ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period.

Key Stories Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

About GE Vernova

(Get Free Report)

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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Analyst Recommendations for GE Vernova (NYSE:GEV)

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