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

Baird R W cut shares of GE Vernova (NYSE:GEV) from a strong-buy rating to a hold rating in a research note published on Friday,Zacks.com reports.

GEV has been the subject of a number of other reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Mizuho decreased their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Citigroup dropped their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Redburn Partners set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $689.00.

GE Vernova Stock Performance

GEV opened at $622.69 on Friday. The stock’s 50 day moving average price is $620.58 and its 200-day moving average price is $607.85. GE Vernova has a one year low of $252.25 and a one year high of $731.00. The stock has a market cap of $168.95 billion, a price-to-earnings ratio of 101.41, a P/E/G ratio of 2.61 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) 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 return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. As a group, analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s payout ratio is 32.57%.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently bought and sold shares of GEV. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of GE Vernova by 12.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 1,190 shares of the company’s stock worth $363,000 after purchasing an additional 132 shares during the last quarter. Woodline Partners LP boosted its position in GE Vernova by 40.8% during the first quarter. Woodline Partners LP now owns 23,310 shares of the company’s stock valued at $7,116,000 after purchasing an additional 6,756 shares in the last quarter. Focus Partners Wealth grew its stake in GE Vernova by 12.4% in the first quarter. Focus Partners Wealth now owns 38,393 shares of the company’s stock valued at $11,691,000 after purchasing an additional 4,227 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in GE Vernova by 9.8% in the first quarter. Intech Investment Management LLC now owns 10,743 shares of the company’s stock worth $3,280,000 after purchasing an additional 961 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.