GE Vernova (NYSE:GEV) Price Target Raised to $436.00 at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its target price raised by analysts at JPMorgan Chase & Co. from $374.00 to $436.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 2.15% from the stock’s previous close.

A number of other research firms have also issued reports on GEV. Truist Financial increased their target price on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, January 16th. HSBC restated a “hold” rating and set a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $335.40.

GE Vernova Stock Up 2.6 %

Shares of GE Vernova stock opened at $426.84 on Thursday. GE Vernova has a 12-month low of $115.00 and a 12-month high of $434.10. The stock’s fifty day moving average is $349.37 and its 200-day moving average is $269.42.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova will post 1.96 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. increased its position in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC raised its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares in the last quarter. Mutual Advisors LLC grew its position in GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 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.