GE Vernova (NYSE:GEV) Price Target Raised to $522.00

GE Vernova (NYSE:GEV - Get Free Report) had its target price hoisted by equities researchers at BMO Capital Markets from $381.00 to $522.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 11.59% from the stock's current price.

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Several other brokerages have also recently weighed in on GEV. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Barclays boosted their target price on shares of GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research note on Friday. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the company from $427.00 to $517.00 in a research note on Thursday. Finally, Citigroup lowered their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $385.78.

Get Our Latest Stock Report on GEV

GE Vernova Stock Performance

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Shares of GE Vernova stock traded down $3.38 on Friday, hitting $467.79. 1,631,467 shares of the company traded hands, compared to its average volume of 3,338,026. The business has a 50-day simple moving average of $369.12 and a 200 day simple moving average of $354.21. GE Vernova has a 52 week low of $150.01 and a 52 week high of $489.13. The stock has a market capitalization of $127.68 billion and a P/E ratio of 84.26.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the business posted ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. Research analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Inflows and Outflows

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Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in GE Vernova during the fourth quarter valued at $1,109,720,000. Capital International Investors grew its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. GAMMA Investing LLC grew its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA grew its position in GE Vernova by 1,638.5% during the fourth 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 period. Finally, AQR Capital Management LLC grew its position in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after buying an additional 892,549 shares during the period.

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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