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

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

A number of other brokerages also recently weighed in on GEV. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Evercore reissued an “outperform” rating and issued a $1,350.00 price target on shares of GE Vernova in a report on Thursday, October 1st. Jefferies Financial Group reissued a “buy” rating and issued a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. Citigroup reduced their price target on shares of GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Finally, Glj Research started coverage on shares of GE Vernova in a research note on Monday, September 14th. They issued a “sell” rating and a $470.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $1,165.87.

GE Vernova Stock Performance

GE Vernova stock traded up $5.92 during mid-day 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 quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova has a 52 week low of $530.16 and a 52 week high of $1,195.94. The company has a 50 day moving average of $967.54 and a 200-day moving average of $1,000.09. The firm has a market cap of $267.05 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.48 and a beta of 1.14.

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

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co increased its stake in shares of GE Vernova by 110,973.4% in the fourth 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 period. BlackRock Inc. acquired a new position in shares of GE Vernova in the second quarter valued at approximately $25,569,630,000. Bank of America Corp DE acquired a new position in shares of GE Vernova in the second quarter valued at approximately $2,961,612,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova in the second quarter valued at approximately $2,497,472,000. Finally, Jupiter Topco LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $2,371,538,000.

GE Vernova Company Profile

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.