Weiss Ratings Reiterates "Hold (C)" Rating for GE Vernova (NYSE:GEV)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for GE Vernova (NYSE:GEV), while several other brokerages have issued varying ratings, including a "Buy" rating with significantly increased target prices.
• GE Vernova's stock recently decreased by 1.8% to $584.68, despite a strong quarterly revenue of $9.97 billion, which surpassed analysts' expectations.
• The firm's CFO recently sold 3,300 shares of GE Vernova stock, decreasing their ownership by 30.30%, which has raised some investor eyebrows amid other institutional activity in the stock.

GE Vernova (NYSE:GEV - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other brokerages have also issued reports on GEV. Bank of America boosted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. UBS Group set a $710.00 price target on shares of GE Vernova in a report on Thursday. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Cowen reiterated a "buy" rating on shares of GE Vernova in a research report on Thursday. Finally, Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $607.59.

GE Vernova Stock Down 1.8%

Shares of NYSE:GEV traded down $10.47 during trading on Friday, reaching $584.68. The stock had a trading volume of 3,683,859 shares, compared to its average volume of 3,073,707. GE Vernova has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market capitalization of $158.64 billion, a price-to-earnings ratio of 95.23, a P/E/G ratio of 4.30 and a beta of 1.72. The stock has a fifty day simple moving average of $611.31 and a two-hundred day simple moving average of $529.36.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business earned ($0.35) EPS. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova will post 6.59 EPS for the current year.

Insider Transactions at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents 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 currently owned by corporate insiders.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently made changes to their positions in GEV. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova in the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $408,000. Resona Asset Management Co. Ltd. grew its holdings in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Dupree Financial Group LLC bought a new stake in GE Vernova during the second quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in GE Vernova during the first quarter worth $458,000.

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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