GE Vernova (NYSE:GEV) Raised to “Buy” at Wall Street Zen

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

A number of other analysts have also recently commented on GEV. Susquehanna reaffirmed a “positive” rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Barclays upped their price target on GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Royal Bank Of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Finally, Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a “buy” rating for the company. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $429.13.

GE Vernova Trading Up 2.7%

Shares of NYSE:GEV opened at $520.56 on Friday. The stock has a market capitalization of $142.08 billion, a P/E ratio of 75.01, a P/E/G ratio of 4.03 and a beta of 1.97. GE Vernova has a 1-year low of $150.01 and a 1-year high of $532.59. The business has a 50-day moving average price of $443.89 and a two-hundred day moving average price of $376.74.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) EPS. As a group, equities analysts predict that GE Vernova will post 6.59 EPS for the current year.

Hedge Funds Weigh In On GE Vernova

Large investors have recently bought and sold shares of the company. MRP Capital Investments LLC bought a new stake in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC raised its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC bought a new stake in shares of GE Vernova during the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 1st quarter worth approximately $27,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the 1st 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.