Analysts at Robert W. Baird assumed coverage on shares of GE Vernova (NYSE:GEV - Get Free Report) in a research note issued on Thursday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $448.00 price target on the stock. Robert W. Baird's price target would indicate a potential upside of 21.16% from the company's previous close.
A number of other equities analysts have also recently issued reports on GEV. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Barclays increased their price objective on GE Vernova from $420.00 to $487.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Royal Bank of Canada restated an "outperform" rating and issued a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a "buy" rating and a $354.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $350.13.
Read Our Latest Report on GEV
Shares of NYSE GEV opened at $369.76 on Thursday. The stock has a 50 day moving average of $360.36 and a 200-day moving average of $290.17. GE Vernova has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $101.92 billion and a P/E ratio of 66.50.
GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue was up 5.1% compared to the same quarter last year. Analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.
GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of GEV. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the 4th quarter worth $25,000. Cedar Mountain Advisors LLC boosted its holdings in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC grew its position in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in shares of GE Vernova during the 4th quarter worth approximately $30,000.
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.
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