GE Vernova (NYSE:GEV) Price Target Raised to $570.00

GE Vernova (NYSE:GEV) had its price target raised by stock analysts at The Goldman Sachs Group from $500.00 to $570.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 24.11% from the company’s previous close.

A number of other equities research analysts have also commented on GEV. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Morgan Stanley reissued an “overweight” rating and issued a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Finally, Robert W. Baird lifted their target price on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $390.58.

GE Vernova Price Performance

Shares of NYSE GEV traded down $20.73 during trading hours on Tuesday, hitting $459.27. 2,129,945 shares of the company’s stock were exchanged, compared to its average volume of 3,283,913. The company’s 50-day moving average price is $392.70 and its 200-day moving average price is $361.82. GE Vernova has a 1-year low of $150.01 and a 1-year high of $500.72. The stock has a market capitalization of $125.35 billion, a price-to-earnings ratio of 82.69, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned ($0.47) EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Westover Capital Advisors LLC grew its position in GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company’s stock worth $345,000 after acquiring an additional 25 shares during the period. SVB Wealth LLC raised its holdings in shares of GE Vernova by 0.7% in the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company’s stock valued at $1,094,000 after purchasing an additional 26 shares in the last quarter. Stonebridge Financial Group LLC raised its stake in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company’s stock valued at $105,000 after buying an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in GE Vernova by 0.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company’s stock worth $2,598,000 after acquiring an additional 30 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in GE Vernova by 20.3% during the 1st quarter. Hemington Wealth Management now owns 178 shares of the company’s stock worth $54,000 after buying an additional 30 shares during 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.