GE Vernova (NYSE:GEV) Price Target Raised to $511.00

GE Vernova (NYSE:GEV) had its target price lifted by Morgan Stanley from $422.00 to $511.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on GEV. Jefferies Financial Group downgraded shares of GE Vernova from a “buy” rating to a “hold” rating and boosted their target price for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Susquehanna reissued a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Guggenheim reissued a “buy” rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Finally, BMO Capital Markets boosted their target price on shares of GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $429.13.

GE Vernova Stock Up 0.8%

Shares of GE Vernova stock opened at $506.74 on Tuesday. The firm’s 50 day moving average price is $439.93 and its 200-day moving average price is $375.18. GE Vernova has a 52-week low of $150.01 and a 52-week high of $522.97. The company has a market cap of $138.30 billion, a P/E ratio of 73.02, a PEG ratio of 3.90 and a beta of 1.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. GE Vernova’s payout ratio is 14.41%.

Hedge Funds Weigh In On GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of the business. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of GE Vernova in the 1st quarter valued at about $3,185,000. Swedbank AB increased its stake in shares of GE Vernova by 38.1% in the 1st quarter. Swedbank AB now owns 190,148 shares of the company’s stock valued at $58,048,000 after purchasing an additional 52,461 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of GE Vernova by 23.7% in the 1st quarter. Voya Investment Management LLC now owns 124,458 shares of the company’s stock valued at $37,995,000 after purchasing an additional 23,815 shares in the last quarter. Howe & Rusling Inc. increased its stake in shares of GE Vernova by 5.3% in the 1st quarter. Howe & Rusling Inc. now owns 934 shares of the company’s stock valued at $285,000 after purchasing an additional 47 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its position in GE Vernova by 0.3% during the first quarter. BROOKFIELD Corp ON now owns 10,564 shares of the company’s stock worth $3,225,000 after acquiring an additional 35 shares during the period.

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.