GE Vernova (NYSE:GEV) Price Target Cut to $420.00 by Analysts at BMO Capital Markets

GE Vernova (NYSE:GEV) had its target price cut by BMO Capital Markets from $471.00 to $420.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on GEV. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Friday, January 24th. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Finally, Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.83.

GE Vernova Trading Down 6.0 %

Shares of GEV stock opened at $315.19 on Monday. The company’s 50-day moving average price is $363.25 and its 200-day moving average price is $307.25. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market cap of $86.96 billion and a price-to-earnings ratio of 56.69.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.32%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors boosted its holdings in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. State Street Corp boosted its holdings in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Finally, Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the period.

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.