Wells Fargo & Company Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

Key Points

• Wells Fargo & Company has raised its price target for GE Vernova (NYSE:GEV) from $697.00 to $717.00, signaling a potential upside of 16.98% based on current stock prices.
• The stock currently holds an average rating of "Moderate Buy" among analysts, with four ratings as Strong Buy, nineteen as Buy, eight as Hold, and two as Sell.
• In recent trading, GE Vernova's stock price reached $612.93, reflecting a market cap of $166.85 billion and a price-to-earnings ratio of 99.41.

GE Vernova (NYSE:GEV - Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $697.00 to $717.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 16.98% from the stock's current price.

A number of other research analysts have also recently commented on the company. Rothschild & Co Redburn restated a "sell" rating and issued a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $715.00 to $740.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays lifted their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Morgan Stanley upped their target price on GE Vernova from $675.00 to $690.00 and gave the stock an "overweight" rating in a research note on Thursday, October 16th. Four equities 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $607.59.

GE Vernova Price Performance

GE Vernova stock traded up $17.78 during mid-day trading on Friday, hitting $612.93. 441,416 shares of the company's stock traded hands, compared to its average volume of 3,411,981. GE Vernova has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market cap of $166.85 billion, a price-to-earnings ratio of 99.41, a P/E/G ratio of 4.17 and a beta of 1.72. The firm has a 50 day simple moving average of $612.04 and a two-hundred day simple moving average of $527.31.

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

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GEV. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. GAMMA Investing LLC increased its position in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after purchasing an additional 542 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova during the 1st quarter valued at approximately $328,000. Lecap Asset Management Ltd. bought a new position in GE Vernova during the 1st quarter worth approximately $407,000. Finally, Spire Wealth Management lifted its position in shares of GE Vernova by 23.8% in the 1st quarter. Spire Wealth Management now owns 3,680 shares of the company's stock worth $1,124,000 after purchasing an additional 707 shares during the period.

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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