GE Vernova (NYSE:GEV) Given New $896.00 Price Target at Wells Fargo & Company

GE Vernova (NYSE:GEV) had its target price increased by equities research analysts at Wells Fargo & Company from $831.00 to $896.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.93% from the company’s current price.

Several other brokerages have also commented on GEV. The Goldman Sachs Group upped their price target on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Morgan Stanley boosted their price target on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $857.35.

GE Vernova Trading Up 2.5%

Shares of NYSE:GEV opened at $837.91 on Tuesday. The firm has a market cap of $225.84 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 3.35 and a beta of 1.44. The stock’s 50-day moving average price is $805.62 and its two-hundred day moving average price is $684.01. GE Vernova has a 12-month low of $252.25 and a 12-month high of $948.38.

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

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co grew its stake in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. Norges Bank acquired a new position in shares of GE Vernova in the fourth quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Capital World Investors boosted its holdings in GE Vernova by 1,907.5% in 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 last quarter. Finally, Corient Private Wealth LLC grew its stake in GE Vernova by 2,802.8% during the 4th 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.

About GE Vernova

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.