GE Vernova (NYSE:GEV) Price Target Cut to $354.00 by Analysts at Citigroup

GE Vernova (NYSE:GEV) had its target price decreased by equities research analysts at Citigroup from $437.00 to $354.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 7.69% from the stock’s previous close.

Several other analysts have also commented on the stock. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. BMO Capital Markets dropped their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $343.66.

GE Vernova Stock Up 2.0 %

Shares of NYSE GEV opened at $328.72 on Monday. The company has a market capitalization of $89.85 billion and a PE ratio of 59.12. The stock’s 50 day moving average price is $324.89 and its 200-day moving average price is $328.68. GE Vernova has a twelve month low of $128.25 and a twelve month high of $447.50.

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

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently made changes to their positions in GEV. Register Financial Advisors LLC bought a new position in GE Vernova in the fourth quarter valued at $206,000. GPS Wealth Strategies Group LLC increased its position in shares of GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the last quarter. Yarbrough Capital LLC raised its holdings in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after buying an additional 1,160 shares in the last quarter. Legacy Bridge LLC lifted its position in GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after buying an additional 4,776 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after buying an additional 1,408 shares in the last quarter.

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.