GE Vernova Inc. Declares Quarterly Dividend of $0.25 (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) announced a quarterly dividend on Monday, June 23rd, RTT News reports. Stockholders of record on Monday, July 21st will be paid a dividend of 0.25 per share on Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $13.01 during midday trading on Monday, hitting $499.97. 3,086,133 shares of the company were exchanged, compared to its average volume of 3,266,494. The firm has a 50 day simple moving average of $425.55 and a 200-day simple moving average of $371.06. The firm has a market cap of $136.46 billion, a P/E ratio of 72.04, a PEG ratio of 3.78 and a beta of 1.97. GE Vernova has a 52 week low of $150.01 and a 52 week high of $503.56.

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

Institutional Investors Weigh In On GE Vernova

A hedge fund recently raised its stake in GE Vernova stock. Brighton Jones LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,315 shares of the company’s stock after purchasing an additional 753 shares during the period. Brighton Jones LLC’s holdings in GE Vernova were worth $1,091,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Citigroup lowered their price target on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Glj Research assumed coverage on GE Vernova in a research note on Monday. They issued a “buy” rating and a $702.00 target price for the company. JPMorgan Chase & Co. boosted their target price on GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Robert W. Baird upped their price target on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Susquehanna reiterated a “positive” rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $425.42.

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.