Barclays Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price target increased by equities research analysts at Barclays from $420.00 to $487.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 16.15% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Truist Financial upped their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $339.73.

GE Vernova Price Performance

GE Vernova stock opened at $419.27 on Thursday. The business has a 50 day simple moving average of $351.59 and a 200 day simple moving average of $270.59. The company has a market capitalization of $115.57 billion and a PE ratio of 75.41. GE Vernova has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that GE Vernova will post 6.61 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Calamos Wealth Management LLC raised its position in GE Vernova by 19.1% during the fourth quarter. Calamos Wealth Management LLC now owns 3,138 shares of the company’s stock worth $1,032,000 after acquiring an additional 504 shares in the last quarter. Calamos Advisors LLC raised its holdings in shares of GE Vernova by 16.1% in the 4th quarter. Calamos Advisors LLC now owns 94,072 shares of the company’s stock valued at $30,943,000 after purchasing an additional 13,025 shares during the period. Trust Point Inc. lifted its stake in GE Vernova by 16.6% in the 4th quarter. Trust Point Inc. now owns 1,852 shares of the company’s stock valued at $609,000 after purchasing an additional 264 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in GE Vernova by 31.9% during the fourth quarter. Childress Capital Advisors LLC now owns 1,165 shares of the company’s stock worth $383,000 after purchasing an additional 282 shares during the period. Finally, Fourpath Capital Management LLC increased its position in GE Vernova by 10.1% during the fourth quarter. Fourpath Capital Management LLC now owns 612 shares of the company’s stock worth $201,000 after buying an additional 56 shares during 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.