GE Vernova (NYSE:GEV) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised the price target for GE Vernova from $690 to $710, indicating a potential upside of 23.32% based on the stock's previous close and maintaining an "outperform" rating.
• The company has a consensus rating of "Moderate Buy" from analysts, with four rating it as a Strong Buy and others varying between Buy, Hold, and Sell ratings.
• GE Vernova reported $1.64 earnings per share for the latest quarter, missing estimates by $0.08, although its revenue of $9.97 billion exceeded forecasts and showed an 11.8% increase year-over-year.

GE Vernova (NYSE:GEV - Get Free Report) had its price objective lifted by stock analysts at BMO Capital Markets from $690.00 to $710.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price would suggest a potential upside of 23.32% from the company's previous close.

Several other brokerages also recently commented on GEV. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. increased their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Barclays raised their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Mizuho upped their target price on GE Vernova from $670.00 to $677.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Finally, Bank of America increased their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $601.70.

GE Vernova Stock Down 1.6%

NYSE:GEV opened at $575.73 on Thursday. GE Vernova has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a fifty day moving average of $612.65 and a 200-day moving average of $525.17. The firm has a market capitalization of $156.72 billion, a P/E ratio of 138.73, a P/E/G ratio of 4.24 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) 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 company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the company earned ($0.35) earnings per share. The firm's revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts anticipate that GE Vernova will post 6.59 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently bought and sold shares of GEV. Vanguard Group Inc. raised its holdings in shares of GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company's stock valued at $13,051,258,000 after purchasing an additional 271,958 shares during the last quarter. State Street Corp grew its position in GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company's stock worth $5,872,389,000 after purchasing an additional 206,650 shares in the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company's stock valued at $3,221,404,000 after buying an additional 129,315 shares during the last quarter. Norges Bank purchased a new stake in GE Vernova in the 2nd quarter valued at about $1,809,220,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after buying an additional 214,483 shares in the last quarter.

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.

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