GE Vernova (NYSE:GEV) Stock Rating Reaffirmed as Buy by Guggenheim

GE Vernova (NYSE:GEV - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Guggenheim in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $1,450.00 price objective on the stock. Guggenheim's target price would suggest a potential upside of 45.50% from the company's previous close.

Several other analysts have also recently weighed in on GEV. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, September 14th. They issued a "sell" rating and a $470.00 price objective on the stock. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a research note on Tuesday, September 15th. The Goldman Sachs Group raised shares of GE Vernova from a "buy" rating to a "market outperform" rating in a research note on Monday, September 14th. Oppenheimer boosted their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $1,250.00 price objective (up from $1,110.00) on shares of GE Vernova in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,165.87.

GE Vernova Trading Down 0.0%

Shares of GE Vernova stock traded down $0.23 during trading on Tuesday, hitting $996.57. The company's stock had a trading volume of 280,628 shares, compared to its average volume of 2,620,070. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova has a 52 week low of $530.16 and a 52 week high of $1,195.94. The stock has a market cap of $265.42 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. The stock has a 50-day moving average price of $967.54 and a two-hundred day moving average price of $1,000.09.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. The business's revenue for the quarter was up 21.9% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova will post 15.03 EPS for the current fiscal year.

Institutional Trading of GE Vernova

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of GE Vernova during the 2nd quarter worth about $25,569,630,000. State Street Corp boosted its position in shares of GE Vernova by 3.3% during the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company's stock worth $13,828,380,000 after purchasing an additional 370,842 shares in the last quarter. Bank of America Corp DE bought a new position in shares of GE Vernova during the 2nd quarter worth about $2,961,612,000. Bank of New York Mellon Corp bought a new position in shares of GE Vernova during the 2nd quarter worth about $2,497,472,000. Finally, Jupiter Topco LLC bought a new position in shares of GE Vernova during the 2nd quarter worth about $2,371,538,000.

About GE Vernova

GE Vernova Inc NYSE: GEV is an energy technology company formed through the separation of General Electric's energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.