GE Vernova (NYSE:GEV) Now Covered by Analysts at Susquehanna

Susquehanna assumed coverage on shares of GE Vernova (NYSE:GEV) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued a positive rating and a $370.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. Bank of America boosted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $350.27.

GE Vernova Trading Up 4.9 %

GEV stock opened at $331.17 on Wednesday. The business’s 50 day simple moving average is $339.82 and its 200 day simple moving average is $324.64. GE Vernova has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a market capitalization of $91.37 billion and a PE ratio of 59.56.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company 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%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

Large investors have recently modified their holdings of the business. Cedar Mountain Advisors LLC raised its position in GE Vernova by 102.6% during 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 last quarter. MRP Capital Investments LLC acquired a new position in shares of GE Vernova in the fourth quarter worth approximately $25,000. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new position in GE Vernova during the 4th 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.