Weiss Ratings Reaffirms “Hold (C)” Rating for GE Vernova (NYSE:GEV)

GE Vernova (NYSE:GEV)‘s stock had its “hold (c)” rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on GEV. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Susquehanna upped 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. Mizuho cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a research note on Monday, July 28th. Finally, Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Trading Up 3.2%

GE Vernova stock opened at $625.47 on Wednesday. GE Vernova has a 12 month low of $252.25 and a 12 month high of $677.29. The stock’s 50 day moving average is $621.18 and its 200-day moving average is $504.60. The company has a market capitalization of $170.27 billion, a price-to-earnings ratio of 150.72, a PEG ratio of 4.41 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of GE Vernova by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after purchasing an additional 271,958 shares in the last quarter. State Street Corp grew its position in shares of GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after purchasing an additional 129,315 shares in the last quarter. Norges Bank purchased a new position in shares of GE Vernova during the 2nd quarter valued at $1,809,220,000. Finally, Goldman Sachs Group Inc. grew its position in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after purchasing an additional 214,483 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.