GE Vernova (NYSE:GEV) Given New $658.00 Price Target at Citigroup

Key Points

• Citigroup has reduced its price target for GE Vernova from $670.00 to $658.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 14.29% from its current price.
• Despite varying price targets from multiple analysts, the average rating for GE Vernova is "Moderate Buy" with a consensus target price of $600.81.
• GE Vernova recently reported earnings of $1.64 per share, falling short of analysts' expectations, but showed an 11.8% increase in revenue year-over-year, amounting to $9.97 billion.

GE Vernova (NYSE:GEV - Get Free Report) had its target price reduced by Citigroup from $670.00 to $658.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price target suggests a potential upside of 14.29% from the stock's current price.

A number of other analysts have also recently weighed in on GEV. Redburn Partners set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. TD Cowen decreased their price objective on shares of GE Vernova from $685.00 to $680.00 and set a "buy" rating for the company in a research report on Thursday. Mizuho increased their price objective on shares of GE Vernova from $670.00 to $677.00 and gave the company a "neutral" rating in a research report on Wednesday, October 15th. Rothschild & Co Redburn reaffirmed a "sell" rating and issued a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, Robert W. Baird increased their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $600.81.

GE Vernova Stock Performance

NYSE:GEV opened at $575.73 on Thursday. GE Vernova has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market capitalization of $156.72 billion, a P/E ratio of 138.73, a P/E/G ratio of 4.24 and a beta of 1.72. The company's 50-day simple moving average is $612.65 and its 200-day simple moving average is $525.17.

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

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently bought and sold shares of the business. Bay Harbor Wealth Management LLC raised its position in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 43 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company's stock worth $33,000 after purchasing an additional 17 shares during the period. WFA Asset Management Corp acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $31,000. Finally, Monetary Management Group Inc. acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $32,000.

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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