GE Vernova (NYSE:GEV) Given New $630.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada increased the price target for GE Vernova from $605 to $630, suggesting a potential upside of 6.37% from its current price.
• Despite the positive outlook from Royal Bank of Canada, other analysts have set lower targets, with Rothschild & Co maintaining a "sell" rating at $475.
• GE Vernova's recent quarterly earnings revealed a miss in EPS expectations at $1.64, although its revenue increased by 11.8% year-over-year to $9.97 billion.

GE Vernova (NYSE:GEV - Get Free Report) had its price target lifted by research analysts at Royal Bank Of Canada from $605.00 to $630.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 6.37% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Rothschild & Co Redburn reiterated a "sell" rating and issued a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Morgan Stanley upped their price target on shares of GE Vernova from $675.00 to $690.00 and gave the company an "overweight" rating in a research note on Thursday, October 16th. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price target on the stock. Susquehanna upped their price target on shares of GE Vernova from $736.00 to $740.00 and gave the company a "positive" rating in a research note on Monday, October 13th. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an "outperform" rating in a research note on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $602.63.

GE Vernova Trading Up 2.8%

NYSE GEV opened at $592.28 on Thursday. The firm's fifty day moving average price is $612.65 and its two-hundred day moving average price is $525.17. GE Vernova has a 1 year low of $252.25 and a 1 year high of $677.29. The firm has a market capitalization of $161.23 billion, a P/E ratio of 142.72, a price-to-earnings-growth ratio of 4.24 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the company posted ($0.35) earnings per share. The business's revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova will post 6.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently added to or reduced their stakes in GEV. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the period. GAMMA Investing LLC boosted its position in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after buying an additional 542 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova during the 1st quarter worth approximately $328,000. Lecap Asset Management Ltd. acquired a new stake in GE Vernova during the 1st quarter worth approximately $407,000. Finally, Daymark Wealth Partners LLC boosted its position in GE Vernova by 13.7% during the 1st quarter. Daymark Wealth Partners LLC now owns 7,010 shares of the company's stock worth $2,140,000 after buying an additional 842 shares during the period.

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.

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