GE Vernova (NYSE:GEV) Price Target Cut to $1,150.00 by Analysts at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $1,330.00 to $1,150.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.56% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. TD Cowen boosted their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Citigroup lowered their target price on GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $1,250.00 price objective (up from $1,110.00) on shares of GE Vernova in a report on Friday, August 7th. Sanford C. Bernstein restated an “outperform” rating and issued a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a report on Tuesday, September 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $1,165.87.

GE Vernova Trading Up 0.4%

Shares of NYSE GEV traded up $4.48 during midday trading on Friday, hitting $1,003.83. The stock had a trading volume of 871,041 shares, compared to its average volume of 2,639,816. The firm has a market cap of $267.36 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. GE Vernova has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The company’s 50-day simple moving average is $967.51 and its 200 day simple moving average is $998.61.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 earnings per share. Research analysts anticipate that GE Vernova will post 14.93 EPS for the current year.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC increased its stake in shares of GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares during the period. Red Door Wealth Management LLC boosted its holdings in GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after purchasing an additional 10 shares during the period. Advance Capital Management Inc. increased its holdings in shares of GE Vernova by 2.2% during the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after purchasing an additional 10 shares during the period. Alpha Financial Partners LLC raised its position in shares of GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after buying an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC grew its position in GE Vernova by 2.6% during the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after buying an additional 10 shares in the last quarter.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.