GE Vernova (NYSE:GEV) Coverage Initiated at Susquehanna

Research analysts at Susquehanna began coverage on shares of GE Vernova (NYSE:GEV) in a report released on Wednesday,Benzinga reports. The firm set a “positive” rating and a $370.00 price target on the stock. Susquehanna’s target price suggests a potential upside of 17.50% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a report on Wednesday, March 5th. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, Robert W. Baird started coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $350.27.

GE Vernova Price Performance

NYSE GEV opened at $314.91 on Wednesday. The stock’s 50 day simple moving average is $341.74 and its 200-day simple moving average is $324.60. The company has a market cap of $86.88 billion and a PE ratio of 55.48. GE Vernova has a 1-year low of $119.00 and a 1-year high of $447.50.

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

GE Vernova declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of GE Vernova

Institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new stake in GE Vernova in the fourth quarter valued at $206,000. GPS Wealth Strategies Group LLC boosted its position in shares of GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the period. Yarbrough Capital LLC grew its stake in GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after buying an additional 1,160 shares during the last quarter. Legacy Bridge LLC increased its position in GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after buying an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after buying an additional 1,408 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.