GE Vernova (NYSE:GEV) Now Covered by Robert W. Baird

Research analysts at Robert W. Baird began coverage on shares of GE Vernova (NYSE:GEV) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $448.00 price target on the stock. Robert W. Baird’s price objective would suggest a potential upside of 21.16% from the company’s current price.

GEV has been the subject of several other reports. Morgan Stanley lifted their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Wells Fargo & Company lifted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Finally, Barclays upped their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Price Performance

NYSE:GEV opened at $369.76 on Thursday. The company has a market capitalization of $101.92 billion and a P/E ratio of 66.50. The business has a fifty day simple moving average of $360.36 and a two-hundred day simple moving average of $290.17. GE Vernova has a 1 year low of $115.00 and a 1 year high of $447.50.

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

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of GE Vernova in the fourth quarter valued at about $69,000. KCM Investment Advisors LLC boosted its position in GE Vernova by 63.2% during the 4th quarter. KCM Investment Advisors LLC now owns 1,420 shares of the company’s stock valued at $467,000 after acquiring an additional 550 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of GE Vernova during the 4th quarter valued at $26,198,000. Wells Fargo & Company MN grew its holdings in GE Vernova by 10.7% in the fourth quarter. Wells Fargo & Company MN now owns 517,163 shares of the company’s stock worth $170,110,000 after purchasing an additional 49,777 shares during the period. Finally, Smith Moore & CO. increased its stake in shares of GE Vernova by 22.2% during the fourth quarter. Smith Moore & CO. now owns 2,090 shares of the company’s stock valued at $687,000 after purchasing an additional 379 shares in the last quarter.

About GE Vernova

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.