GE Vernova (NYSE:GEV) Rating Increased to Buy at Melius

Key Points

• GE Vernova has been upgraded from a "hold" to a "buy" rating by Melius, with a price target of $740.00, representing a potential upside of 18.21% from its current price.
• Overall, the stock has received four Strong Buy, nineteen Buy, and nine Hold ratings from various analysts, with an average rating of "Moderate Buy" and a consensus target price of $586.44.
• The company reported a quarterly earnings per share of $1.86, surpassing estimates, and has set earnings guidance for FY 2025 as analysts anticipate 6.59 EPS for the current fiscal year.

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by research analysts at Melius from a "hold" rating to a "buy" rating in a report released on Monday, MarketBeat reports. The brokerage presently has a $740.00 price objective on the stock. Melius' target price would suggest a potential upside of 18.21% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Citigroup raised their price objective on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Jefferies Financial Group raised their price objective on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Glj Research began coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $586.44.

GE Vernova Stock Down 1.3%

NYSE GEV opened at $625.99 on Monday. GE Vernova has a twelve month low of $219.01 and a twelve month high of $677.29. The company has a market cap of $170.41 billion, a price-to-earnings ratio of 150.84, a price-to-earnings-growth ratio of 4.32 and a beta of 1.88. The business's fifty day moving average is $608.65 and its 200 day moving average is $469.09.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the business posted $4.65 EPS. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Insider Buying and Selling at GE Vernova

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 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in GE Vernova in the 2nd quarter valued at about $29,000. Howard Hughes Medical Institute bought a new stake in GE Vernova in the 2nd quarter valued at about $31,000. Monetary Management Group Inc. bought a new stake in GE Vernova in the 2nd quarter valued at about $32,000. Highline Wealth Partners LLC increased its position in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares in the last quarter. Finally, Raleigh Capital Management Inc. bought a new stake in GE Vernova in the 2nd quarter valued at about $37,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.