Rothschild & Co Redburn Upgrades GE Vernova (NYSE:GEV) to Buy

GE Vernova (NYSE:GEV) was upgraded by equities researchers at Rothschild & Co Redburn from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $1,100.00 price objective on the stock, up from their previous price objective of $560.00. Rothschild & Co Redburn’s price objective would suggest a potential upside of 39.24% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Susquehanna raised their price target on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Erste Group Bank initiated coverage on shares of GE Vernova in a research report on Thursday. They set a “buy” rating for the company. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Robert W. Baird set a $923.00 target price on GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Trading Down 3.1%

Shares of NYSE GEV opened at $790.00 on Monday. The company has a market capitalization of $212.93 billion, a price-to-earnings ratio of 44.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.45. GE Vernova has a twelve month low of $252.25 and a twelve month high of $894.93. The business has a 50 day simple moving average of $743.08 and a 200-day simple moving average of $656.48.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.73 earnings per share. As a group, equities analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GEV. Norges Bank bought a new stake in GE Vernova during the 4th quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares in the last quarter. Capital World Investors increased its holdings in shares of GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after purchasing an additional 2,048,792 shares during the period. Corient Private Wealth LLC raised its stake in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.