GE Vernova (NYSE:GEV) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

GE Vernova (NYSE:GEV) had its target price increased by BMO Capital Markets from $381.00 to $522.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

GEV has been the topic of several other reports. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Guggenheim restated a “buy” rating and set a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Finally, Citigroup reduced their target price on GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $385.78.

GE Vernova Trading Up 0.1%

NYSE:GEV opened at $471.56 on Friday. The stock has a market cap of $128.71 billion and a P/E ratio of 84.81. The stock’s 50-day moving average is $371.84 and its 200-day moving average is $355.59. GE Vernova has a 1-year low of $150.01 and a 1-year high of $489.13.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.47) earnings per share. As a group, equities analysts forecast that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently modified their holdings of GEV. Norges Bank bought a new position in shares of GE Vernova in the 4th quarter worth $1,109,720,000. Capital International Investors lifted its holdings in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after purchasing an additional 892,549 shares in the last quarter.

About GE Vernova

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.