Barclays Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV - Get Free Report) had its price target raised by stock analysts at Barclays from $550.00 to $580.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 7.62% from the company's current price.

Several other research analysts have also recently issued reports on GEV. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and raised their target price for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Morgan Stanley raised their price objective on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $451.38.

GE Vernova Price Performance

Shares of GE Vernova stock traded down $0.41 during trading on Wednesday, hitting $538.95. 2,285,780 shares of the company's stock traded hands, compared to its average volume of 3,318,687. GE Vernova has a 1 year low of $150.01 and a 1 year high of $546.65. The stock has a market capitalization of $147.10 billion, a P/E ratio of 77.66, a PEG ratio of 4.15 and a beta of 1.86. The business has a 50-day simple moving average of $476.87 and a 200-day simple moving average of $389.56.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The business 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% on a year-over-year basis. During the same period last year, the firm posted ($0.47) earnings per share. On average, equities analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Navigoe LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the first quarter valued at about $27,000. Finally, IMA Advisory Services Inc. purchased a new position in GE Vernova in the first quarter valued at about $27,000.

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.