Barclays Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV - Get Free Report) had its target price raised by equities researchers at Barclays from $580.00 to $706.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective points to a potential upside of 9.53% from the company's current price.

Other equities research analysts also recently issued research reports about the company. TD Cowen lowered their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. raised their price target on GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $540.96.

GE Vernova Stock Performance

GEV stock traded up $20.63 during trading on Thursday, reaching $644.60. 3,598,352 shares of the company traded hands, compared to its average volume of 3,205,434. GE Vernova has a 12 month low of $150.01 and a 12 month high of $651.22. The business has a 50 day simple moving average of $510.80 and a 200 day simple moving average of $406.08. The company has a market capitalization of $175.93 billion, a price-to-earnings ratio of 155.33, a price-to-earnings-growth ratio of 4.66 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 earnings per share. As a group, research analysts forecast that GE Vernova will post 6.59 EPS for the current year.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Vanguard Group Inc. increased its position in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares in the last quarter. Capital International Investors increased its position in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC increased its position in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000.

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.