GE Vernova’s (GEV) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of GE Vernova (NYSE:GEV) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $761.00 target price on the stock.

A number of other research analysts have also recently commented on the company. Cowen reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Morgan Stanley increased their target price on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a report on Monday, September 15th. Finally, BMO Capital Markets upped their price objective on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Trading Up 0.8%

Shares of GE Vernova stock opened at $666.81 on Monday. The firm has a market capitalization of $180.92 billion, a PE ratio of 108.60, a price-to-earnings-growth ratio of 5.04 and a beta of 1.71. The firm’s 50 day moving average is $602.75 and its 200 day moving average is $592.62. GE Vernova has a 1 year low of $252.25 and a 1 year high of $731.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the company earned ($0.35) EPS. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the 3rd quarter worth about $25,000. Bay Harbor Wealth Management LLC lifted its stake in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Elevation Wealth Partners LLC boosted its position in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 28 shares during the period.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.