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

GE Vernova Inc. (NYSE:GEV) has earned an average recommendation of “Moderate Buy” from the thirty-four ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $691.1111.

GEV has been the subject of a number of research reports. Barclays boosted their target price on shares of GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. The Goldman Sachs Group boosted their price objective on GE Vernova from $735.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Robert W. Baird set a $816.00 target price on GE Vernova in a report on Thursday, December 18th. Wells Fargo & Company lifted their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Mizuho dropped their price target on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th.

Institutional Trading of GE Vernova

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after purchasing an additional 150,892 shares during the last quarter. State Street Corp increased its holdings in shares of GE Vernova by 1.3% in the third quarter. State Street Corp now owns 11,238,278 shares of the company’s stock valued at $6,910,417,000 after purchasing an additional 140,500 shares during the last quarter. Geode Capital Management LLC lifted its position in GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after buying an additional 129,315 shares in the last quarter. Norges Bank acquired a new position in GE Vernova during the second quarter worth $1,809,220,000. Finally, Northern Trust Corp boosted its stake in GE Vernova by 1.8% during the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after buying an additional 51,738 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $686.52 on Friday. GE Vernova has a 1-year low of $252.25 and a 1-year high of $731.00. The company has a market cap of $186.27 billion, a price-to-earnings ratio of 111.81, a PEG ratio of 2.85 and a beta of 1.67. The stock has a 50 day simple moving average of $617.04 and a 200-day simple moving average of $605.03.

GE Vernova (NYSE:GEV) last issued its quarterly 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). The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) EPS. Analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

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

About GE Vernova

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.