GE Vernova (NYSE:GEV) Price Target Raised to $460.00

GE Vernova (NYSE:GEV) had its target price lifted by JPMorgan Chase & Co. from $430.00 to $460.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets decreased their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price for the company. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Barclays decreased 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. Finally, CICC Research assumed coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Six equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.62.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $428.63 on Friday. The firm has a market cap of $116.99 billion and a PE ratio of 77.09. The firm’s fifty day moving average is $344.05 and its 200-day moving average is $345.94. GE Vernova has a 52 week low of $150.01 and a 52 week high of $447.50.

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, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) earnings per share. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts forecast that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is presently 14.41%.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $25,000. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Finally, Navigoe LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at about $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.