Jefferies Financial Group Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV - Free Report) had its price target hoisted by Jefferies Financial Group from $391.00 to $413.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on GEV. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Royal Bank of Canada dropped their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Bank of America raised their price target on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $349.54.

Remove Ads

GE Vernova Stock Performance

NYSE GEV traded up $2.99 on Thursday, reaching $305.92. The company had a trading volume of 4,675,769 shares, compared to its average volume of 3,596,110. The company's fifty day moving average is $345.68 and its 200-day moving average is $323.33. GE Vernova has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a market capitalization of $84.40 billion and a price-to-earnings ratio of 55.02.

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

GE Vernova declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of GE Vernova

Large investors have recently bought and sold shares of the business. 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 acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its holdings 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 in the last quarter. Finally, Navigoe LLC bought a new position in shares of GE Vernova in the 4th quarter valued at $27,000.

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.