GE Vernova (NYSE:GEV) Now Covered by Robert W. Baird

Equities research analysts at Robert W. Baird assumed coverage on shares of GE Vernova (NYSE:GEV) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $448.00 price target on the stock. Robert W. Baird’s target price points to a potential upside of 21.93% from the company’s previous close.

Several other research analysts have also issued reports on the company. Morgan Stanley increased their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Finally, Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Price Performance

GE Vernova stock opened at $367.43 on Thursday. The stock has a fifty day moving average price of $361.32 and a two-hundred day moving average price of $291.28. GE Vernova has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market capitalization of $101.28 billion and a P/E ratio of 66.08.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of GEV. Exchange Traded Concepts LLC lifted its holdings in shares of GE Vernova by 628.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock valued at $970,000 after purchasing an additional 3,281 shares in the last quarter. Creative Planning lifted its holdings in shares of GE Vernova by 11.4% during the 3rd quarter. Creative Planning now owns 52,641 shares of the company’s stock valued at $13,422,000 after purchasing an additional 5,382 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $203,000. Vontobel Holding Ltd. lifted its holdings in shares of GE Vernova by 454.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 13,558 shares of the company’s stock valued at $3,457,000 after purchasing an additional 11,113 shares in the last quarter. Finally, Hengehold Capital Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $306,000.

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.