Brokerages Set GE Vernova Inc. (NYSE:GEV) PT at $404.56

GE Vernova Inc. (NYSE:GEV) has been assigned an average rating of “Moderate Buy” from the thirty-one research firms that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $404.56.

GEV has been the topic of several research analyst reports. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Royal Bank Of Canada lowered their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Susquehanna reiterated a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Guggenheim reissued a “buy” rating and set a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in the business. Westover Capital Advisors LLC lifted its position in shares of GE Vernova by 2.3% during the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company’s stock valued at $345,000 after acquiring an additional 25 shares during the period. SVB Wealth LLC raised its stake in GE Vernova by 0.7% during the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company’s stock worth $1,094,000 after buying an additional 26 shares during the period. Stonebridge Financial Group LLC grew its stake in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company’s stock valued at $105,000 after acquiring an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company’s stock valued at $2,598,000 after acquiring an additional 30 shares in the last quarter. Finally, Hemington Wealth Management raised its position in shares of GE Vernova by 20.3% during the first quarter. Hemington Wealth Management now owns 178 shares of the company’s stock worth $54,000 after purchasing an additional 30 shares during the period.

GE Vernova Stock Up 0.3%

Shares of NYSE GEV opened at $490.12 on Monday. GE Vernova has a twelve month low of $150.01 and a twelve month high of $500.72. The company has a market cap of $133.77 billion, a PE ratio of 70.62, a price-to-earnings-growth ratio of 3.79 and a beta of 1.97. The business’s 50 day moving average price is $418.66 and its two-hundred day moving average price is $368.60.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the prior year, the business earned ($0.47) EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.