Guggenheim Downgrades GE Vernova (NYSE:GEV) to Neutral

Key Points

• Guggenheim has downgraded GE Vernova from a "buy" to a "neutral" rating, impacting investor sentiment following a recent research note.
• The company reported a Q2 earnings per share (EPS) of $1.86, surpassing estimates of $1.63 and achieving an 11.1% increase in revenue year-over-year.
• Analysts currently maintain an average price target of $560.21 for GE Vernova, with many having a "buy" or "outperform" rating despite the downgrade.

GE Vernova (NYSE:GEV - Get Free Report) was downgraded by analysts at Guggenheim from a "buy" rating to a "neutral" rating in a research note issued to investors on Monday,Finviz reports.

Several other research analysts have also recently weighed in on GEV. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating for the company. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. UBS Group assumed coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. TD Cowen increased their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday. Finally, Robert W. Baird increased their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Up 3.3%

GE Vernova stock opened at $644.60 on Monday. The company has a market capitalization of $175.47 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.57 and a beta of 1.86. GE Vernova has a 1-year low of $150.01 and a 1-year high of $651.22. The firm's fifty day simple moving average is $510.80 and its 200-day simple moving average is $406.63.

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

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares during the period. Vanguard Group Inc. raised its holdings 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 worth $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Capital International Investors increased its stake in 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 purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after acquiring an additional 214,483 shares during the last quarter.

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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