GE Vernova (NYSE:GEV) Rating Increased to Buy at Melius

GE Vernova (NYSE:GEV) was upgraded by stock analysts at Melius from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat.com reports. The brokerage presently has a $740.00 target price on the stock. Melius’ price objective would indicate a potential upside of 18.21% from the stock’s previous close.

A number of other brokerages have also commented on GEV. Morgan Stanley boosted their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. BMO Capital Markets boosted their target price on GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Finally, Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $586.44.

GE Vernova Stock Performance

Shares of GEV opened at $625.99 on Monday. The stock has a 50 day moving average price of $608.65 and a two-hundred day moving average price of $469.09. The firm has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a P/E/G ratio of 4.32 and a beta of 1.88. GE Vernova has a 52 week low of $219.01 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently made changes to their positions in the stock. Sachetta LLC lifted its position in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after acquiring an additional 16 shares in the last quarter. Good Life Advisors LLC lifted its position in shares of GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank lifted its position in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after acquiring an additional 17 shares in the last quarter. Finally, Graney & King LLC lifted its position in shares of GE Vernova by 2.4% during the second quarter. Graney & King LLC now owns 722 shares of the company’s stock worth $382,000 after acquiring an additional 17 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.