GE Vernova (NYSE:GEV) Downgraded to Sector Perform Rating by Royal Bank Of Canada

Key Points

• Royal Bank of Canada has downgraded GE Vernova from a "moderate buy" rating to a "hold" rating, indicating a shift in analysts' outlook on the stock.
• Multiple analysts have changed their ratings on GEV, with Mizuho lowering it to "neutral" and Jefferies Financial Group maintaining a "hold" while adjusting the price target upward.
• Despite the downgrade, GE Vernova reported strong quarterly earnings, beating consensus estimates with $1.86 earnings per share compared to an expected $1.63.

GE Vernova (NYSE:GEV - Get Free Report) was downgraded by Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report issued on Wednesday, Marketbeat.com reports. They currently have a $605.00 target price on the stock. Royal Bank Of Canada's target price suggests a potential downside of 0.33% from the company's previous close.

Several other equities research analysts also recently commented on GEV. Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a "buy" rating in a research note on Monday, September 15th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. HSBC lifted their target price on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Finally, Barclays increased their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $598.50.

GE Vernova Trading Down 1.3%

NYSE:GEV opened at $606.97 on Wednesday. GE Vernova has a 1-year low of $248.50 and a 1-year high of $677.29. The business's 50-day moving average price is $624.54 and its two-hundred day moving average price is $495.09. The firm has a market capitalization of $165.23 billion, a price-to-earnings ratio of 146.26, a PEG ratio of 4.48 and a beta of 1.74.

GE Vernova (NYSE:GEV - Get Free Report) last posted its 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. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Sachetta LLC raised its position in shares of GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company's stock valued at $87,000 after buying an additional 16 shares in the last quarter. Good Life Advisors LLC grew its position in GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company's stock worth $875,000 after buying an additional 16 shares in the last quarter. Bell Investment Advisors Inc increased its stake in GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company's stock worth $135,000 after acquiring an additional 16 shares during the period. AMG National Trust Bank raised its holdings in GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company's stock valued at $606,000 after acquiring an additional 17 shares in the last quarter. Finally, Graney & King LLC lifted its position in shares of GE Vernova by 2.4% during the 2nd quarter. Graney & King LLC now owns 722 shares of the company's stock valued at $382,000 after acquiring an additional 17 shares during the period.

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.