GE Vernova (NYSE:GEV) Coverage Initiated at Robert W. Baird

Stock analysts at Robert W. Baird started coverage on shares of GE Vernova (NYSE:GEV) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $448.00 price target on the stock. Robert W. Baird’s price objective indicates a potential upside of 21.93% from the company’s previous close.

A number of other equities analysts also recently weighed in on GEV. BMO Capital Markets upped their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group upped their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Down 0.8 %

NYSE GEV opened at $367.43 on Thursday. The stock’s 50-day moving average price is $361.32 and its two-hundred day moving average price is $291.28. The company has a market cap of $101.28 billion and a PE ratio of 66.08. GE Vernova has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently modified their holdings of GEV. Exchange Traded Concepts LLC boosted its position in shares of GE Vernova by 628.5% in the third quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock valued at $970,000 after acquiring an additional 3,281 shares during the period. Creative Planning lifted its position in GE Vernova by 11.4% in the third quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after purchasing an additional 5,382 shares during the period. Magnus Financial Group LLC bought a new position in GE Vernova in the third quarter worth $203,000. Vontobel Holding Ltd. lifted its position in GE Vernova by 454.5% in the third quarter. Vontobel Holding Ltd. now owns 13,558 shares of the company’s stock worth $3,457,000 after purchasing an additional 11,113 shares during the period. Finally, Hengehold Capital Management LLC bought a new position in GE Vernova in the third quarter worth $306,000.

About GE Vernova

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.