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

GE Vernova Inc. (NYSE:GEV) has been assigned an average recommendation of “Moderate Buy” from the thirty-three research firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $347.83.

A number of analysts recently commented on the stock. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Finally, Barclays cut their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently added to or reduced their stakes in GEV. MRP Capital Investments LLC acquired a new stake in GE Vernova during the fourth quarter worth about $25,000. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $27,000.

GE Vernova Stock Down 1.5 %

Shares of NYSE:GEV opened at $288.90 on Friday. The firm has a 50 day moving average of $360.05 and a 200 day moving average of $308.83. The company has a market capitalization of $79.71 billion and a price-to-earnings ratio of 51.96. GE Vernova has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova will post 6.59 EPS for the current year.

GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.35%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

About GE Vernova

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.