GE Vernova (NYSE:GEV) Coverage Initiated at Erste Group Bank

Research analysts at Erste Group Bank initiated coverage on shares of GE Vernova (NYSE:GEV) in a report issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

GEV has been the topic of several other research reports. TD Cowen upped their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. China Renaissance raised GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Robert W. Baird set a $923.00 price objective on GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $805.25.

GE Vernova Trading Down 3.1%

Shares of GEV stock opened at $790.00 on Thursday. The firm’s fifty day moving average price is $743.08 and its two-hundred day moving average price is $655.74. GE Vernova has a 1 year low of $252.25 and a 1 year high of $894.93. The firm has a market capitalization of $212.93 billion, a P/E ratio of 44.38, a PEG ratio of 3.24 and a beta of 1.45.

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

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $26,000. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter valued at $25,000. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in GE Vernova during the third quarter worth $25,000. Finally, ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period.

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.