UBS Group Upgrades GE Vernova (NYSE:GEV) to "Buy"

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by research analysts at UBS Group to a "buy" rating in a research note issued on Monday, MarketBeat.com reports. The brokerage presently has a $614.00 target price on the stock. UBS Group's price objective suggests a potential upside of 13.90% from the stock's current price.

A number of other brokerages have also recently weighed in on GEV. Glj Research began coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Bank of America increased their target price on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Morgan Stanley upped their price target on shares of GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group upped their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $450.13.

GE Vernova Stock Up 1.7%

Shares of NYSE:GEV traded up $9.06 on Monday, reaching $539.06. 553,044 shares of the company's stock were exchanged, compared to its average volume of 3,741,408. The firm has a market capitalization of $147.12 billion, a price-to-earnings ratio of 77.66, a PEG ratio of 4.08 and a beta of 1.86. GE Vernova has a fifty-two week low of $150.01 and a fifty-two week high of $540.22. The business's 50-day moving average is $467.60 and its two-hundred day moving average is $385.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.47) earnings per share. Analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently made changes to their positions in the business. Atlas Brown Inc. boosted its position in shares of GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after purchasing an additional 19 shares in the last quarter. Westover Capital Advisors LLC boosted its holdings in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares during the period. SVB Wealth LLC boosted its holdings in shares of GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after buying an additional 26 shares during the period. Stonebridge Financial Group LLC boosted its holdings in shares of GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after buying an additional 30 shares during the period.

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.