GE Vernova’s (GEV) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of GE Vernova (NYSE:GEV) in a research report report published on Thursday morning,Benzinga reports. Guggenheim currently has a $380.00 target price on the stock.

GEV has been the topic of several other research reports. Johnson Rice began coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Barclays cut their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $357.13.

GE Vernova Trading Down 1.6 %

Shares of GEV opened at $322.81 on Thursday. The stock has a 50 day moving average of $321.67 and a 200 day moving average of $330.15. GE Vernova has a 12 month low of $132.11 and a 12 month high of $447.50. The company has a market capitalization of $88.24 billion and a price-to-earnings ratio of 58.06.

GE Vernova (NYSE:GEV) last released its 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova’s payout ratio is 17.99%.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. MRP Capital Investments LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC raised its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% during 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 during the period. Finally, Navigoe LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $27,000.

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.