GE Vernova (NYSE:GEV) Earns Buy Rating from Analysts at Johnson Rice

Research analysts at Johnson Rice started coverage on shares of GE Vernova (NYSE:GEV) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $425.00 price target on the stock. Johnson Rice’s target price would suggest a potential upside of 13.43% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $346.22.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $374.67 on Friday. The business has a fifty day moving average price of $356.93 and a two-hundred day moving average price of $283.41. The company has a market capitalization of $103.28 billion and a PE ratio of 67.39. GE Vernova has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm 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% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova will post 6.33 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently made changes to their positions in the business. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC boosted its position in shares of 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 last quarter. Castleview Partners LLC purchased a new position in GE Vernova during the third quarter valued at $28,000. Covestor Ltd increased its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth $31,000.

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.