GE Vernova (NYSE:GEV) Given New $620.00 Price Target at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its price objective boosted by JPMorgan Chase & Co. from $460.00 to $620.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Robert W. Baird raised their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Glj Research began coverage on GE Vernova in a report on Monday, June 23rd. They issued a “buy” rating for the company. Wolfe Research lowered GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $468.88.

GE Vernova Price Performance

GE Vernova stock opened at $561.72 on Wednesday. The stock has a market cap of $153.31 billion, a PE ratio of 80.94, a P/E/G ratio of 4.17 and a beta of 1.86. The stock’s fifty day moving average is $486.23 and its two-hundred day moving average is $394.06. GE Vernova has a 1-year low of $150.01 and a 1-year high of $570.95.

GE Vernova (NYSE:GEV) last posted its 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 firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) earnings per share. On average, research analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s payout ratio is 14.41%.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MRP Capital Investments LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $25,000. Navigoe LLC acquired a new stake in GE Vernova in the fourth quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova in the first quarter valued at $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the 4th quarter worth about $28,000.

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.