GE Vernova (NYSE:GEV) Cut to “Hold” at Baird R W

GE Vernova (NYSE:GEV) was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

Several other brokerages also recently issued reports on GEV. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Mizuho dropped their target price on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. UBS Group upped their price target on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, TD Cowen cut their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $689.00.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $622.69 on Friday. The company’s fifty day moving average is $620.58 and its two-hundred day moving average is $606.45. GE Vernova has a 1-year low of $252.25 and a 1-year high of $731.00. The stock has a market capitalization of $168.95 billion, a price-to-earnings ratio of 101.41, a price-to-earnings-growth ratio of 2.63 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) EPS. Sell-side analysts expect that GE Vernova will post 6.59 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of GE Vernova during the second quarter valued at approximately $1,809,220,000. Capital World Investors boosted its stake in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after purchasing an additional 2,048,792 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the period. Assenagon Asset Management S.A. increased its position in shares of GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after buying an additional 740,339 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.