GE Vernova (NYSE:GEV) Stock Price Expected to Rise, TD Cowen Analyst Says

GE Vernova (NYSE:GEV) had its target price raised by TD Cowen from $390.00 to $685.00 in a report released on Friday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the stock.

GEV has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research note on Thursday. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a “buy” rating for the company. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Finally, Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $540.96.

GE Vernova Price Performance

Shares of NYSE GEV opened at $644.60 on Friday. GE Vernova has a 1 year low of $150.01 and a 1 year high of $651.22. The stock has a market capitalization of $175.93 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. The company has a 50-day moving average price of $510.80 and a 200-day moving average price of $406.08.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.65 earnings per share. As a group, equities research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio is presently 24.10%.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently bought and sold shares of the business. Navigoe LLC bought a new position in GE Vernova during the fourth quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the first quarter valued at $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the first quarter valued at $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter valued at $28,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova during the fourth quarter valued at $30,000.

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.