GE Vernova (NYSE:GEV) Upgraded by Wall Street Zen to Buy Rating

GE Vernova (NYSE:GEV) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

A number of other analysts have also weighed in on the company. Argus set a $1,300.00 price objective on GE Vernova in a research note on Monday, April 27th. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Guggenheim raised their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Trading Up 1.4%

Shares of NYSE GEV traded up $15.38 during midday trading on Friday, reaching $1,090.64. The company had a trading volume of 1,737,069 shares, compared to its average volume of 2,887,361. GE Vernova has a one year low of $530.16 and a one year high of $1,195.94. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $1,040.14 and its 200-day moving average price is $895.32. The stock has a market cap of $293.08 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the business posted $0.91 EPS. GE Vernova’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova will post 15.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently added to or reduced their stakes in the stock. First Community Trust NA grew its stake in shares of GE Vernova by 171.5% in the second quarter. First Community Trust NA now owns 448 shares of the company’s stock worth $526,000 after acquiring an additional 283 shares during the last quarter. Ballast Inc. purchased a new position in shares of GE Vernova in the 2nd quarter worth about $1,040,000. Regent Peak Wealth Advisors LLC boosted its stake in GE Vernova by 10.3% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $1,292,000 after purchasing an additional 103 shares in the last quarter. Annex Advisory Services LLC grew its position in GE Vernova by 14.3% during the 2nd quarter. Annex Advisory Services LLC now owns 1,199 shares of the company’s stock valued at $1,408,000 after purchasing an additional 150 shares during the last quarter. Finally, Insight Wealth Strategies LLC grew its position in GE Vernova by 21.0% during the 2nd quarter. Insight Wealth Strategies LLC now owns 351 shares of the company’s stock valued at $399,000 after purchasing an additional 61 shares during 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.