GE Vernova (NYSE:GEV) Price Target Raised to $706.00 at Barclays

GE Vernova (NYSE:GEV) had its target price hoisted by Barclays from $580.00 to $706.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 13.21% from the company’s current price.

Other analysts also recently issued reports about the company. Robert W. Baird lifted their price objective on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Morgan Stanley upped their price target on shares of GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $460.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Finally, UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $493.50.

GE Vernova Stock Down 0.9%

Shares of GEV traded down $5.39 on Thursday, reaching $623.64. The stock had a trading volume of 884,375 shares, compared to its average volume of 3,676,812. The firm has a market capitalization of $170.21 billion, a PE ratio of 89.86, a PEG ratio of 4.13 and a beta of 1.86. The firm has a 50-day moving average of $502.54 and a 200 day moving average of $402.41. GE Vernova has a twelve month low of $150.01 and a twelve month high of $633.72.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 EPS. On average, sell-side analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently made changes to their positions in GEV. MSH Capital Advisors LLC bought a new position in GE Vernova in the 2nd quarter valued at $216,000. US Bancorp DE raised its holdings in shares of GE Vernova by 2.0% during the 2nd quarter. US Bancorp DE now owns 98,379 shares of the company’s stock worth $52,057,000 after buying an additional 1,927 shares in the last quarter. Armstrong Fleming & Moore Inc acquired a new position in shares of GE Vernova in the second quarter valued at approximately $673,000. Hager Investment Management Services LLC increased its stake in shares of GE Vernova by 38.6% in the second quarter. Hager Investment Management Services LLC now owns 1,306 shares of the company’s stock valued at $691,000 after buying an additional 364 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of GE Vernova by 146.1% during the 2nd quarter. Vontobel Holding Ltd. now owns 22,520 shares of the company’s stock worth $11,916,000 after buying an additional 13,370 shares during the period.

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.