GE Vernova (NYSE:GEV) Given New $387.00 Price Target at Robert W. Baird

GE Vernova (NYSE:GEV) had its price objective lowered by equities researchers at Robert W. Baird from $448.00 to $387.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 20.25% from the stock’s current price.

A number of other equities research analysts have also weighed in on GEV. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Barclays dropped their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $343.66.

GE Vernova Stock Performance

NYSE:GEV opened at $321.84 on Tuesday. GE Vernova has a 52-week low of $128.25 and a 52-week high of $447.50. The stock has a fifty day moving average of $325.81 and a 200 day moving average of $328.68. The firm has a market capitalization of $87.97 billion and a price-to-earnings ratio of 57.88.

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

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in GEV. Armstrong Advisory Group Inc. increased its stake in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares during the period. Hengehold Capital Management LLC boosted its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after buying an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC boosted its position in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in shares of GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 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.