GE Vernova (NYSE:GEV - Get Free Report) had its price objective increased by equities research analysts at Morgan Stanley from $422.00 to $511.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 0.71% from the company's current price.
Several other research firms also recently commented on GEV. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Susquehanna reaffirmed a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Bank of America lifted their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Guggenheim restated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.
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GE Vernova Trading Up 1.5%
NYSE:GEV opened at $507.38 on Tuesday. GE Vernova has a 12 month low of $150.01 and a 12 month high of $511.99. The firm's 50 day moving average is $429.11 and its 200 day moving average is $372.13. The stock has a market capitalization of $138.48 billion, a PE ratio of 73.01, a price-to-earnings-growth ratio of 3.78 and a beta of 1.97.
GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted ($0.47) earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.
Institutional Trading of GE Vernova
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB raised its stake in shares of GE Vernova by 38.1% during the first quarter. Swedbank AB now owns 190,148 shares of the company's stock worth $58,048,000 after acquiring an additional 52,461 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of GE Vernova by 23.7% during the 1st quarter. Voya Investment Management LLC now owns 124,458 shares of the company's stock valued at $37,995,000 after purchasing an additional 23,815 shares during the last quarter. Howe & Rusling Inc. raised its position in GE Vernova by 5.3% in the 1st quarter. Howe & Rusling Inc. now owns 934 shares of the company's stock worth $285,000 after purchasing an additional 47 shares during the period. BROOKFIELD Corp ON lifted its stake in GE Vernova by 0.3% in the first quarter. BROOKFIELD Corp ON now owns 10,564 shares of the company's stock worth $3,225,000 after purchasing an additional 35 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in GE Vernova during the first quarter valued at about $31,000.
About GE Vernova
(
Get Free Report)
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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