GE Vernova Inc. (NYSE:GEV) Receives $369.22 Consensus Target Price from Analysts

GE Vernova Inc. (NYSE:GEV) has received a consensus rating of “Moderate Buy” from the thirty-two brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $369.22.

GEV has been the subject of a number of recent analyst reports. CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Robert W. Baird raised their target price on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Barclays lowered their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Guggenheim reiterated a “buy” rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter worth about $25,000. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its position in 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 acquiring an additional 69 shares in the last quarter. Finally, Navigoe LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $27,000.

GE Vernova Stock Performance

GEV opened at $370.94 on Friday. The stock has a 50-day moving average of $319.02 and a 200-day moving average of $334.35. GE Vernova has a 52-week low of $149.42 and a 52-week high of $447.50. The company has a market cap of $101.24 billion and a PE ratio of 66.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.47) earnings per share. On average, research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued 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 is Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

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.