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

Guggenheim reiterated their buy rating on shares of GE Vernova (NYSE:GEV) in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a $380.00 target price on the stock.

Several other equities research analysts also recently commented on GEV. Jefferies Financial Group upped their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Royal Bank of Canada dropped their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Robert W. Baird lifted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $369.22.

GE Vernova Trading Up 3.4 %

NYSE:GEV opened at $372.62 on Thursday. GE Vernova has a 12 month low of $149.42 and a 12 month high of $447.50. The firm’s 50 day moving average is $318.90 and its 200 day moving average is $332.89. The stock has a market capitalization of $101.85 billion and a PE ratio of 67.02.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.46. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted ($0.47) earnings per share. Research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently modified their holdings of GEV. Howard Capital Management Group LLC bought a new stake in GE Vernova in the 3rd quarter worth approximately $213,000. Virtu Financial LLC bought a new position in GE Vernova during the third quarter valued at approximately $1,481,000. Westside Investment Management Inc. raised its stake in shares of GE Vernova by 24.0% during the third quarter. Westside Investment Management Inc. now owns 362 shares of the company’s stock worth $92,000 after acquiring an additional 70 shares in the last quarter. Fulcrum Equity Management bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $218,000. Finally, World Investment Advisors LLC lifted its holdings in shares of GE Vernova by 41.4% in the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock worth $733,000 after acquiring an additional 842 shares during the last quarter.

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.