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

Shares of GE Vernova Inc. (NYSE:GEVGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twenty-two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $1,090.76.

Several research firms have issued reports on GEV. Citigroup upped their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Guggenheim raised their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Mizuho set a $714.00 price target on GE Vernova in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets lifted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd.

View Our Latest Analysis on GEV

GE Vernova Price Performance

GEV stock opened at $968.81 on Monday. The business has a 50 day moving average price of $996.99 and a 200 day moving average price of $807.91. The stock has a market cap of $260.34 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.63 and a beta of 1.24. GE Vernova has a fifty-two week low of $458.65 and a fifty-two week high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEVGet Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts anticipate that GE Vernova will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is presently 5.83%.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. boosted its stake in shares of 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 period. Cornerstone Financial Management LLC acquired a new position in GE Vernova in the 4th quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in GE Vernova during the 4th quarter valued at approximately $26,000. Finally, Manning & Napier Advisors LLC lifted its position in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the period.

About GE Vernova

(Get Free Report)

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.

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Analyst Recommendations for GE Vernova (NYSE:GEV)

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