Citigroup Boosts GE Vernova (NYSE:GEV) Price Target to $544.00

GE Vernova (NYSE:GEV) had its price target upped by research analysts at Citigroup from $354.00 to $544.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential downside of 2.94% from the company’s current price.

GEV has been the topic of a number of other reports. Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a “buy” rating on the stock. Morgan Stanley upped their target price on GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a report on Tuesday, June 24th. Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price objective for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $459.29.

GE Vernova Stock Up 1.0%

Shares of GE Vernova stock opened at $560.49 on Monday. The firm’s 50 day moving average is $483.13 and its two-hundred day moving average is $392.90. The firm has a market capitalization of $152.97 billion, a P/E ratio of 80.76, a P/E/G ratio of 4.13 and a beta of 1.86. GE Vernova has a 52 week low of $150.01 and a 52 week high of $560.63.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Hedge funds have recently made changes to their positions in the company. Atlas Brown Inc. boosted its stake in GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after acquiring an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock worth $128,000 after buying an additional 20 shares during the period. Grove Bank & Trust grew its stake in shares of GE Vernova by 16.0% in the second quarter. Grove Bank & Trust now owns 167 shares of the company’s stock worth $88,000 after purchasing an additional 23 shares in the last quarter. Westover Capital Advisors LLC increased its stake in GE Vernova by 2.3% during the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company’s stock valued at $345,000 after buying an additional 25 shares during the period. Finally, SVB Wealth LLC raised its holdings in GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company’s stock worth $1,094,000 after purchasing an additional 26 shares in the last quarter.

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.