GE Vernova Inc. (NYSE:GEV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-three analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $654.5385.

GEV has been the subject of several recent research reports. Bank of America boosted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a report on Wednesday. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Royal Bank Of Canada upgraded shares of GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 target price for the company in a research report on Wednesday.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of GEV. Norges Bank acquired a new stake in GE Vernova in the second quarter worth $1,809,220,000. Capital World Investors increased its position in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after buying an additional 1,104,747 shares during the period. AQR Capital Management LLC lifted its holdings in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Finally, Amundi lifted its holdings in GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $672.32 on Monday. The stock’s fifty day moving average price is $597.06 and its two-hundred day moving average price is $582.05. GE Vernova has a 52-week low of $252.25 and a 52-week high of $731.00. The company has a market cap of $182.41 billion, a price-to-earnings ratio of 109.50, a P/E/G ratio of 5.28 and a beta of 1.71.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 32.57%.

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.