GE Vernova (NYSE:GEV) Downgraded to Peer Perform Rating by Wolfe Research

GE Vernova (NYSE:GEV) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Friday, Marketbeat reports.

A number of other research analysts also recently commented on GEV. TD Cowen dropped their price objective on GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup cut their price objective on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $395.98.

GE Vernova Stock Up 0.7%

NYSE GEV opened at $486.64 on Friday. GE Vernova has a 52 week low of $150.01 and a 52 week high of $500.72. The firm has a 50 day moving average of $404.31 and a two-hundred day moving average of $364.45. The stock has a market capitalization of $132.82 billion, a PE ratio of 87.53, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. On average, equities research analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Empowered Funds LLC increased its stake in GE Vernova by 61.0% in the 4th quarter. Empowered Funds LLC now owns 7,005 shares of the company’s stock valued at $2,304,000 after purchasing an additional 2,653 shares in the last quarter. Focus Financial Network Inc. acquired a new position in GE Vernova during the fourth quarter worth $256,000. Sovran Advisors LLC acquired a new position in GE Vernova during the fourth quarter worth $281,000. Finally, Gladstone Institutional Advisory LLC boosted its position in GE Vernova by 25.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,024 shares of the company’s stock worth $666,000 after purchasing an additional 409 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.