Barclays Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price target increased by Barclays from $500.00 to $550.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 18.39% from the stock’s previous close.

GEV has been the topic of several other research reports. TD Cowen reduced their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Royal Bank of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets boosted their price objective on GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $390.58.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $464.57 on Monday. The company has a market cap of $126.80 billion, a P/E ratio of 83.56, a P/E/G ratio of 3.03 and a beta of 1.97. The firm’s fifty day moving average is $396.05 and its two-hundred day moving average is $362.54. GE Vernova has a 52-week low of $150.01 and a 52-week high of $500.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted ($0.47) EPS. GE Vernova’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast that GE Vernova will post 6.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MRP Capital Investments LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC raised its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Navigoe LLC acquired a new position in GE Vernova during the fourth quarter worth $27,000. Finally, EQ Wealth Advisors LLC acquired a new position in GE Vernova during the first quarter worth $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.