GE Vernova's (GEV) Buy Rating Reiterated at Guggenheim

GE Vernova (NYSE:GEV - Get Free Report)'s stock had its "buy" rating restated by Guggenheim in a report issued on Thursday,Benzinga reports. They presently have a $380.00 price objective on the stock. Guggenheim's target price indicates a potential upside of 17.24% from the stock's current price.

Several other research firms have also recently issued reports on GEV. JPMorgan Chase & Co. dropped their target price on GE Vernova from $436.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. Susquehanna started coverage on GE Vernova in a research note on Wednesday, April 2nd. They set a "positive" rating and a $370.00 price target on the stock. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lifted their price target on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $343.66.

GE Vernova Price Performance

Shares of NYSE:GEV traded down $3.80 during trading on Thursday, hitting $324.12. 1,341,245 shares of the company were exchanged, compared to its average volume of 3,378,933. GE Vernova has a 12-month low of $131.25 and a 12-month high of $447.50. The stock has a market capitalization of $88.60 billion and a P/E ratio of 58.46. The firm's 50 day moving average price is $323.91 and its 200-day moving average price is $328.68.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 during the quarter, compared to analysts' expectations of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova will post 6.59 EPS for the current year.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of GEV. Norges Bank acquired a new position in GE Vernova in the 4th quarter worth approximately $1,109,720,000. Capital International Investors increased its stake in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC grew its stake in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after buying an additional 1,238,690 shares during the last quarter. Finally, FMR LLC increased its holdings in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares during the last quarter.

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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