GE Vernova (NYSE:GEV) Earns Positive Rating from Analysts at Susquehanna

Susquehanna assumed coverage on shares of GE Vernova (NYSE:GEV) in a research report released on Wednesday morning, Marketbeat reports. The brokerage issued a positive rating and a $370.00 target price on the stock.

A number of other equities analysts have also recently issued reports on GEV. BMO Capital Markets cut their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Barclays cut their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group boosted 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. Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $350.27.

GE Vernova Price Performance

NYSE GEV opened at $331.17 on Wednesday. The stock has a market capitalization of $91.37 billion and a P/E ratio of 59.56. The business has a 50 day simple moving average of $339.82 and a 200 day simple moving average of $324.64. GE Vernova has a one year low of $119.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On GE Vernova

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