GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays analysts raised their price target for GE Vernova from $706.00 to $710.00, indicating a potential upside of 23.32% from the previous close, and maintaining an "overweight" rating on the stock.
• GE Vernova's quarterly earnings report revealed earnings per share of $1.64, which fell short of the consensus estimate of $1.72, although the company's revenue grew by 11.8% year-over-year.
• A total of four investment analysts rated the stock as a Strong Buy, while others have assigned an overall consensus rating of "Moderate Buy" with a target price of $601.70.

GE Vernova (NYSE:GEV - Get Free Report) had its target price increased by research analysts at Barclays from $706.00 to $710.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 23.32% from the company's previous close.

GEV has been the topic of a number of other reports. Wells Fargo & Company increased their price target on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the stock a "buy" rating in a research report on Monday, September 15th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. HSBC increased their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Finally, Robert W. Baird boosted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $601.70.

GE Vernova Stock Performance

NYSE GEV opened at $575.73 on Thursday. GE Vernova has a one year low of $252.25 and a one year high of $677.29. The company has a 50-day simple moving average of $612.65 and a 200-day simple moving average of $525.17. The firm has a market capitalization of $156.72 billion, a PE ratio of 138.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company earned ($0.35) EPS. GE Vernova's revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the first quarter worth $27,000. WFA Asset Management Corp purchased a new position in GE Vernova in the second quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC increased its position in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova during the 1st quarter worth about $31,000. Finally, Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $31,000.

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.

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