GE Vernova Inc. (NYSE:GEV) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned a consensus rating of “Moderate Buy” from the thirty-four analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $691.1111.

A number of research firms have issued reports on GEV. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Susquehanna boosted their target price on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Jefferies Financial Group set a $830.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Robert W. Baird set a $816.00 price objective on shares of GE Vernova in a research report on Thursday, December 18th.

GE Vernova Trading Down 1.0%

Shares of GE Vernova stock opened at $653.24 on Friday. The business has a 50-day moving average price of $610.93 and a two-hundred day moving average price of $599.39. GE Vernova has a 1-year low of $252.25 and a 1-year high of $731.00. The company has a market cap of $177.24 billion, a P/E ratio of 106.39, a PEG ratio of 4.98 and a beta of 1.67.

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

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is currently 16.29%.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. raised its holdings in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter worth about $25,000. Bay Harbor Wealth Management LLC increased its position in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 28 shares in the last quarter.

About GE Vernova

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.