Robert W. Baird Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its target price hoisted by stock analysts at Robert W. Baird from $387.00 to $405.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 8.69% from the company’s previous close.

A number of other research analysts also recently commented on GEV. Citigroup lowered their price objective on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Susquehanna initiated coverage on shares of GE Vernova in a research note on Wednesday, April 2nd. They set a “positive” rating and a $370.00 target price for the company. Guggenheim restated a “buy” rating and issued a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 17th. Finally, Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $372.62 on Thursday. The company’s fifty day moving average is $318.90 and its two-hundred day moving average is $332.43. GE Vernova has a 1-year low of $149.42 and a 1-year high of $447.50. The stock has a market capitalization of $101.85 billion and a price-to-earnings ratio of 67.02.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.46. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. During the same quarter last year, the company posted ($0.47) earnings per share. Sell-side 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 hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new position in GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC lifted its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Navigoe LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $27,000.

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.