GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

GE Vernova (NYSE:GEV) had its price objective increased by equities research analysts at Wells Fargo & Company from $831.00 to $896.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.93% from the stock’s previous close.

A number of other analysts also recently issued reports on GEV. TD Cowen raised their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a report on Friday, January 30th. Barclays reaffirmed an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research report on Monday, February 2nd. Finally, Morgan Stanley increased their price objective on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $857.35.

GE Vernova Stock Up 2.5%

Shares of GEV opened at $837.91 on Tuesday. The stock has a market cap of $225.84 billion, a PE ratio of 46.71, a price-to-earnings-growth ratio of 3.35 and a beta of 1.44. GE Vernova has a 52-week low of $252.25 and a 52-week high of $948.38. The firm’s fifty day moving average is $805.62 and its two-hundred day moving average is $684.01.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC raised its position in shares of GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after buying an additional 3,278 shares during the period. Kercheville Advisors LLC boosted its position in GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after acquiring an additional 3,455 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in GE Vernova in the 3rd quarter worth approximately $18,601,000. Finally, US Bancorp DE raised its holdings in GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares during the last quarter.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.