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

Shares of GE Vernova Inc. (NYSE:GEV) have received an average rating of “Moderate Buy” from the thirty-two brokerages that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $350.13.

A number of research firms have recently commented on GEV. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday, January 24th. Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Finally, Robert W. Baird started coverage on shares of GE Vernova in a research report on Thursday. They issued an “outperform” rating and a $448.00 target price for the company.

Hedge Funds Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after buying an additional 814,155 shares during the period. Capital International Investors increased its position in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. State Street Corp increased its position in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the third quarter valued at about $2,507,296,000. Finally, Geode Capital Management LLC increased its position in shares of GE Vernova by 3.5% during 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 buying an additional 195,828 shares during the period.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $367.43 on Tuesday. The firm has a fifty day moving average price of $361.74 and a two-hundred day moving average price of $292.64. The company has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. GE Vernova has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly 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). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova will post 6.59 EPS for the current fiscal year.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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.