Wall Street Zen Downgrades GE Vernova (NYSE:GEV) to Hold

Wall Street Zen lowered shares of GE Vernova (NYSE:GEV) from a buy rating to a hold rating in a research note published on Saturday morning.

Other research analysts also recently issued research reports about the stock. Susquehanna upped their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Jefferies Financial Group downgraded shares of GE Vernova from a “buy” rating to a “hold” rating and upped their price objective for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. UBS Group started coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective for the company. Citigroup upped their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $560.21.

GE Vernova Trading Up 0.6%

NYSE:GEV opened at $648.39 on Friday. GE Vernova has a 12 month low of $150.01 and a 12 month high of $651.22. The firm has a fifty day simple moving average of $514.85 and a 200-day simple moving average of $408.60. The company has a market capitalization of $176.51 billion, a P/E ratio of 156.24, a PEG ratio of 4.57 and a beta of 1.86.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.15%. GE Vernova’s dividend payout ratio is presently 24.10%.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sachetta LLC raised its holdings in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after purchasing an additional 16 shares during the period. Highline Wealth Partners LLC grew its position in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after acquiring an additional 18 shares during the last quarter. Atlas Brown Inc. grew its position in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after acquiring an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock worth $128,000 after acquiring an additional 20 shares during the last quarter. Finally, West Branch Capital LLC grew its position in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock worth $52,000 after acquiring an additional 20 shares during 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.