Analysts Set GE Vernova Inc. (NYSE:GEV) PT at $616.08

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned a consensus rating of “Moderate Buy” from the thirty-three brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $654.5385.

Several equities analysts have recently commented on GEV shares. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a report on Wednesday. Bank of America raised their target price on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research report on Wednesday. Redburn Partners set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, HSBC increased their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $722.56 on Monday. The firm’s 50 day simple moving average is $593.56 and its 200-day simple moving average is $579.74. GE Vernova has a one year low of $252.25 and a one year high of $731.00. The firm has a market cap of $196.04 billion, a PE ratio of 117.68, a price-to-earnings-growth ratio of 4.65 and a beta of 1.71.

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

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of GE Vernova during the second quarter valued at about $1,809,220,000. Capital World Investors raised its stake in shares of GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 acquiring an additional 1,104,747 shares in the last quarter. AQR Capital Management LLC lifted its position 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 valued at $366,016,000 after acquiring an additional 892,549 shares during the last quarter. Finally, Amundi boosted its stake in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares in the last quarter.

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.