GE Vernova (NYSE:GEV) Lowered to “Hold” Rating by Wall Street Zen

GE Vernova (NYSE:GEV) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on GEV. Robert W. Baird increased their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 target price on GE Vernova in a research note on Thursday, April 23rd. Wells Fargo & Company boosted their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Royal Bank Of Canada increased their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Trading Down 3.7%

Shares of GE Vernova stock opened at $1,045.74 on Friday. The company has a market capitalization of $281.01 billion, a P/E ratio of 30.46, a P/E/G ratio of 4.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The company has a fifty day moving average of $1,031.16 and a 200 day moving average of $863.97. GE Vernova has a fifty-two week low of $482.20 and a fifty-two week high of $1,181.95.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. On average, sell-side analysts anticipate that GE Vernova will post 14.99 earnings per share for the current fiscal year.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Auto Owners Insurance Co grew its position in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. Norges Bank bought a new stake in GE Vernova during the fourth quarter worth approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its position in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Capital World Investors raised its position in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after purchasing an additional 2,048,792 shares during the period. Finally, Corient Private Wealth LLC raised its position in GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares during the period.

GE Vernova Company Profile

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.