GE Vernova (NYSE:GEV) Given Buy Rating at Guggenheim

Guggenheim reissued their buy rating on shares of GE Vernova (NYSE:GEV) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $380.00 price target on the stock.

Several other brokerages also recently commented on GEV. TD Cowen lowered their price objective on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Morgan Stanley reissued an “overweight” rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a research note on Thursday. Finally, Robert W. Baird raised their price target on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.22.

GE Vernova Price Performance

GEV opened at $372.62 on Thursday. GE Vernova has a 1 year low of $149.42 and a 1 year high of $447.50. The stock’s 50 day simple moving average is $318.90 and its 200 day simple moving average is $332.89. The firm has a market cap of $101.85 billion and a price-to-earnings ratio of 67.02.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.46. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter last year, the business earned ($0.47) earnings per share. As a group, sell-side analysts anticipate that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s dividend payout ratio is currently 14.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. increased its position in shares of GE Vernova by 18.6% during the first quarter. Mather Group LLC. now owns 2,671 shares of the company’s stock valued at $815,000 after acquiring an additional 418 shares in the last quarter. Alta Advisers Ltd lifted its position in GE Vernova by 43.4% in the 1st quarter. Alta Advisers Ltd now owns 1,322 shares of the company’s stock valued at $404,000 after acquiring an additional 400 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in GE Vernova during the 1st quarter valued at $48,000. CHURCHILL MANAGEMENT Corp increased its holdings in shares of GE Vernova by 96.1% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 46,726 shares of the company’s stock worth $14,264,000 after purchasing an additional 22,893 shares in the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in shares of GE Vernova by 1.1% in the first quarter. Koshinski Asset Management Inc. now owns 3,042 shares of the company’s stock worth $929,000 after purchasing an additional 34 shares during 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.