Baird R W Upgrades GE Vernova (NYSE:GEV) to “Strong-Buy”

GE Vernova (NYSE:GEV) was upgraded by stock analysts at Baird R W to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley raised their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Up 0.2 %

GEV stock opened at $370.45 on Thursday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $447.50. The business’s 50-day moving average price is $360.87 and its two-hundred day moving average price is $290.73. The firm has a market cap of $102.11 billion and a PE ratio of 66.63.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has initiated a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its position in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at approximately $206,000. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the third quarter valued at approximately $1,101,000. Atria Investments Inc grew its position in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares in the last quarter.

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.