GE Vernova (NYSE:GEV) Given New $660.00 Price Target at Mizuho

Key Points

• Mizuho has decreased its price target for GE Vernova from $677.00 to $660.00, maintaining a "neutral" rating with a suggested upside of 7.68% from the current price.
• Despite a recent earnings miss, with reported earnings per share of $1.64 against an estimate of $1.72, the company's quarterly revenue experienced an 11.8% year-over-year increase to $9.97 billion.
• Institutional investors have shown increased interest, with Brighton Jones LLC raising its holdings in GE Vernova by 29.4% recently, indicating growing confidence in the company.

GE Vernova (NYSE:GEV - Get Free Report) had its price target decreased by Mizuho from $677.00 to $660.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a "neutral" rating on the stock. Mizuho's price target would suggest a potential upside of 7.68% from the stock's current price.

Several other brokerages have also recently commented on GEV. BMO Capital Markets lifted their price target on shares of GE Vernova from $690.00 to $710.00 and gave the stock an "outperform" rating in a research report on Thursday. Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the stock a "sector perform" rating in a research report on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GE Vernova in a report on Wednesday, October 8th. Wells Fargo & Company upped their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $715.00 to $740.00 and gave the stock an "overweight" rating in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $607.59.

GE Vernova Stock Up 3.0%

Shares of GE Vernova stock traded up $17.78 during trading on Friday, hitting $612.93. The stock had a trading volume of 441,416 shares, compared to its average volume of 3,411,981. GE Vernova has a 1 year low of $252.25 and a 1 year high of $677.29. The stock has a 50 day simple moving average of $612.04 and a 200 day simple moving average of $527.31. The company has a market capitalization of $166.85 billion, a PE ratio of 99.41, a P/E/G ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the company posted ($0.35) earnings per share. GE Vernova's quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of GE Vernova by 8.4% during the first 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 last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of GE Vernova in the first quarter valued at approximately $328,000. Lecap Asset Management Ltd. purchased a new stake in shares of GE Vernova in the first quarter valued at about $407,000. Finally, Spire Wealth Management lifted its position in GE Vernova by 23.8% in the first quarter. Spire Wealth Management now owns 3,680 shares of the company's stock valued at $1,124,000 after purchasing an additional 707 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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