GE Vernova (NYSE:GEV) Earns Buy Rating from Analysts at Glj Research

Glj Research initiated coverage on shares of GE Vernova (NYSE:GEV - Get Free Report) in a research report issued on Monday,Benzinga reports. The firm set a "buy" rating and a $702.00 price target on the stock. Glj Research's target price would suggest a potential upside of 44.32% from the company's previous close.

GEV has been the topic of several other reports. Bank of America boosted their target price on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada dropped their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Citigroup dropped their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $425.42.

GE Vernova Stock Performance

Shares of GEV opened at $486.41 on Monday. GE Vernova has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The firm's 50-day simple moving average is $425.55 and its two-hundred day simple moving average is $371.06. The stock has a market cap of $132.76 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 3.78 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for 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%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. Equities research analysts predict that GE Vernova will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of GE Vernova in the fourth quarter worth approximately $1,109,720,000. Capital International Investors raised its position in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. GAMMA Investing LLC boosted its stake in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after acquiring an additional 892,549 shares during the period.

About GE Vernova

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.

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