GE Vernova (NYSE:GEV) Stock Rating Upgraded by Guggenheim

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by Guggenheim from a "neutral" rating to a "buy" rating in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a $380.00 price objective on the stock. Guggenheim's price target would indicate a potential upside of 19.81% from the company's current price.

A number of other brokerages also recently commented on GEV. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, Barclays dropped their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $347.83.

GE Vernova Stock Up 1.3 %

NYSE:GEV traded up $4.10 during mid-day trading on Wednesday, reaching $317.17. The company's stock had a trading volume of 4,615,501 shares, compared to its average volume of 4,044,735. The firm has a market capitalization of $87.51 billion and a PE ratio of 57.04. The stock has a fifty day moving average of $361.95 and a 200-day moving average of $308.22. GE Vernova has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of GE Vernova

Several large investors have recently modified their holdings of GEV. Howard Capital Management Group LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $213,000. Janney Montgomery Scott LLC boosted its position in GE Vernova by 16.6% during the third quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company's stock worth $9,789,000 after acquiring an additional 5,472 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in GE Vernova by 3.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 76,832 shares of the company's stock worth $19,591,000 after purchasing an additional 2,377 shares during the period. Pittenger & Anderson Inc. raised its stake in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock worth $41,000 after purchasing an additional 35 shares during the period. Finally, Fractal Investments LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at $1,530,000.

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.