Analysts Set GE Vernova Inc. (NYSE:GEV) Target Price at $349.54

GE Vernova Inc. (NYSE:GEV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirty-four ratings firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $349.20.

GEV has been the subject of several analyst reports. Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Robert W. Baird assumed coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an "outperform" rating and a $448.00 price objective for the company. Finally, William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd.

Institutional Trading of GE Vernova

Several large investors have recently bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares during the last quarter. Finally, Navigoe LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $27,000.

GE Vernova Stock Down 8.8 %

NYSE GEV traded down $26.26 during trading on Wednesday, reaching $271.40. 8,093,637 shares of the stock traded hands, compared to its average volume of 3,453,002. GE Vernova has a fifty-two week low of $125.86 and a fifty-two week high of $447.50. The firm has a market cap of $74.19 billion and a price-to-earnings ratio of 48.81. The stock's 50-day moving average price is $334.07 and its 200 day moving average price is $325.35.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

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.