GE Vernova (NYSE:GEV) Price Target Raised to $399.00

GE Vernova (NYSE:GEV) had its price target hoisted by Susquehanna from $370.00 to $399.00 in a research note issued to investors on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other analysts also recently commented on the stock. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Stock Up 3.4 %

GEV opened at $372.62 on Thursday. The stock has a market cap of $101.85 billion and a P/E ratio of 67.02. GE Vernova has a 12 month low of $149.42 and a 12 month high of $447.50. The company has a fifty day simple moving average of $318.90 and a 200 day simple moving average of $332.89.

GE Vernova (NYSE:GEV) last announced its quarterly 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. The company had revenue of $8.03 billion during 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%. During the same period in the prior year, the company earned ($0.47) earnings per share. On average, equities research analysts expect that GE Vernova 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 will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Thursday, April 17th. GE Vernova’s payout ratio is presently 14.41%.

Institutional Investors Weigh In On GE Vernova

A number of large investors have recently added to or reduced their stakes in GEV. Mather Group LLC. raised its position in shares of GE Vernova by 18.6% in the first quarter. Mather Group LLC. now owns 2,671 shares of the company’s stock valued at $815,000 after purchasing an additional 418 shares during the period. Alta Advisers Ltd grew its stake 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 buying an additional 400 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in GE Vernova in the 1st quarter valued at about $48,000. CHURCHILL MANAGEMENT Corp lifted its position in GE Vernova by 96.1% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 46,726 shares of the company’s stock worth $14,264,000 after acquiring an additional 22,893 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of GE Vernova by 1.1% during the first quarter. Koshinski Asset Management Inc. now owns 3,042 shares of the company’s stock worth $929,000 after acquiring an additional 34 shares during the period.

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.