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

Shares of GE Vernova Inc. (NYSE:GEV) have been given a consensus recommendation of “Moderate Buy” by the twenty-nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, eighteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $701.4231.

Several equities analysts have commented on GEV shares. Redburn Partners set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Thursday. Evercore ISI initiated coverage on GE Vernova in a report on Monday, December 15th. They issued an “outperform” rating and a $860.00 target price for the company. Bank of America increased their price target on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $817.00 price objective on shares of GE Vernova in a research note on Monday.

GE Vernova Stock Up 1.2%

GEV stock opened at $665.75 on Tuesday. The firm has a 50 day moving average of $640.96 and a two-hundred day moving average of $618.70. GE Vernova has a 12 month low of $252.25 and a 12 month high of $731.00. The company has a market capitalization of $180.63 billion, a price-to-earnings ratio of 108.43, a P/E/G ratio of 2.79 and a beta of 1.67.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is presently 32.57%.

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in GEV. Vanguard Group Inc. lifted its stake in GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after purchasing an additional 150,892 shares in the last quarter. State Street Corp raised its holdings in shares of GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock valued at $6,910,417,000 after buying an additional 140,500 shares during the period. Geode Capital Management LLC lifted its stake in GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares in the last quarter. Norges Bank acquired a new position in GE Vernova during the 2nd quarter worth about $1,809,220,000. Finally, Northern Trust Corp boosted its holdings in GE Vernova by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock valued at $1,769,349,000 after acquiring an additional 51,738 shares during the period.

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.