GE Vernova (NYSE:GEV) Trading Up 5.1% After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) shares shot up 5.1% during trading on Monday after Rothschild & Co Redburn upgraded the stock from a sell rating to a buy rating. Rothschild & Co Redburn now has a $1,100.00 price target on the stock, up from their previous price target of $560.00. GE Vernova traded as high as $830.49 and last traded at $829.6620. 2,868,783 shares were traded during mid-day trading, a decline of 3% from the average session volume of 2,962,953 shares. The stock had previously closed at $789.23.

A number of other research analysts have also weighed in on the company. Royal Bank Of Canada upped their price objective on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Susquehanna boosted their target price on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a research note on Friday, January 30th. Morgan Stanley reiterated an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a report on Monday, January 26th. Finally, Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $831.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GEV. Torren Management LLC acquired a new position in GE Vernova during the fourth quarter worth about $26,000. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. increased its stake in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Finally, ORG Wealth Partners LLC raised its position in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the last quarter.

GE Vernova Trading Up 5.1%

The business has a 50 day moving average of $743.08 and a 200-day moving average of $656.48. The stock has a market cap of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.45.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 earnings per share. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

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.