GE Vernova (NYSE:GEV) Stock Price Up 1.4% Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) shares rose 1.4% during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from $381.00 to $522.00. BMO Capital Markets currently has an outperform rating on the stock. GE Vernova traded as high as $483.30 and last traded at $479.51. Approximately 713,286 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,338,186 shares. The stock had previously closed at $472.98.

Several other equities research analysts have also issued reports on GEV. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. TD Cowen cut their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada decreased their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Finally, Robert W. Baird upped their price objective on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.78.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GEV. Brighton Jones LLC grew its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Spire Wealth Management bought a new stake in shares of GE Vernova in the 4th quarter valued at about $978,000. JB Capital LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $241,000. Catalina Capital Group LLC grew its position in shares of GE Vernova by 6.4% in the 4th quarter. Catalina Capital Group LLC now owns 843 shares of the company’s stock worth $277,000 after buying an additional 51 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of GE Vernova by 8.6% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,022 shares of the company’s stock worth $336,000 after acquiring an additional 81 shares in the last quarter.

GE Vernova Price Performance

The company’s fifty day simple moving average is $379.01 and its 200-day simple moving average is $357.63. The firm has a market capitalization of $134.77 billion, a PE ratio of 88.81, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business earned ($0.47) EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

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.