Jefferies Financial Group Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV) had its target price upped by research analysts at Jefferies Financial Group from $391.00 to $413.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 35.49% from the company’s current price.

Several other research analysts also recently issued reports on GEV. The Goldman Sachs Group upped their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Down 4.1 %

NYSE:GEV traded down $12.89 on Thursday, reaching $304.81. The stock had a trading volume of 2,194,338 shares, compared to its average volume of 4,093,655. The company has a market capitalization of $84.10 billion and a P/E ratio of 54.82. GE Vernova has a 1-year low of $119.00 and a 1-year high of $447.50. The stock has a fifty day moving average price of $349.42 and a 200-day moving average price of $321.12.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 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 return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Register Financial Advisors LLC bought a new stake in GE Vernova in the 4th quarter valued at $206,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of GE Vernova by 1,126.0% in 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. Yarbrough Capital LLC lifted its holdings in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares in the last quarter. Legacy Bridge LLC boosted its position in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after buying an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after buying an additional 1,408 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.