GE Vernova (NYSE:GEV) Upgraded to "Buy" at Guggenheim

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by investment analysts at Guggenheim from a "neutral" rating to a "buy" rating in a research note issued to investors on Wednesday. The brokerage currently has a $380.00 price objective on the stock. Guggenheim's price objective indicates a potential upside of 21.58% from the company's current price.

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GEV has been the topic of a number of other reports. Baird R W upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Royal Bank of Canada restated an "outperform" rating and set a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Seven investment 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $347.83.

View Our Latest Stock Analysis on GE Vernova

GE Vernova Stock Down 1.1 %

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GEV stock opened at $312.56 on Wednesday. The company's 50-day moving average price is $362.56 and its two-hundred day moving average price is $308.16. GE Vernova has a 12 month low of $115.00 and a 12 month high of $447.50. The firm has a market cap of $86.24 billion and a P/E ratio of 56.22.

GE Vernova (NYSE:GEV - Get Free Report) last posted its 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 firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that GE Vernova will post 6.59 EPS for the current year.

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

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the company. Armstrong Advisory Group Inc. increased its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after acquiring an additional 27 shares during the last quarter. Hengehold Capital Management LLC grew its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its stake in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC increased its stake in GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after buying an additional 31 shares during the period. Finally, WASHINGTON TRUST Co increased its position in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after acquiring an additional 31 shares during the period.

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.

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