GE Vernova (NYSE:GEV) Earns Positive Rating from Analysts at Susquehanna

Susquehanna began coverage on shares of GE Vernova (NYSE:GEV) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued a positive rating and a $370.00 price objective on the stock.

A number of other equities research analysts have also recently commented on GEV. Barclays decreased their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Royal Bank of Canada reduced their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Finally, Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $349.20.

GE Vernova Trading Down 8.8 %

NYSE:GEV opened at $271.40 on Wednesday. GE Vernova has a 12 month low of $119.00 and a 12 month high of $447.50. The company has a 50-day moving average price of $334.07 and a 200-day moving average price of $324.74. The stock has a market cap of $74.19 billion and a price-to-earnings ratio of 48.81.

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

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of GEV. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the third quarter valued at about $2,507,296,000. Norges Bank bought a new stake in GE Vernova during the 4th quarter valued at approximately $1,109,720,000. Capital International Investors grew its holdings in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after acquiring an additional 1,238,690 shares in the last quarter. Finally, FMR LLC grew its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after buying an additional 814,155 shares during the period.

GE Vernova Company Profile

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.