GE Vernova Inc. (NYSE:GEV) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned an average recommendation of “Moderate Buy” from the thirty-three research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $616.0769.

Several research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. HSBC raised their price target on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research report on Monday, September 15th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, BMO Capital Markets lifted their price objective on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd.

Institutional Trading of GE Vernova

A number of hedge funds have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the 3rd quarter worth about $25,000. WFA Asset Management Corp acquired a new stake in GE Vernova in the 2nd quarter worth about $29,000. 1248 Management LLC purchased a new stake in GE Vernova in the 1st quarter valued at about $31,000. Finally, Howard Hughes Medical Institute purchased a new stake in GE Vernova in the 2nd quarter valued at about $31,000.

GE Vernova Stock Up 0.3%

GE Vernova stock opened at $630.70 on Monday. The firm has a market capitalization of $171.12 billion, a PE ratio of 102.72, a P/E/G ratio of 4.70 and a beta of 1.71. GE Vernova has a 52 week low of $252.25 and a 52 week high of $677.29. The firm’s 50-day simple moving average is $590.63 and its 200 day simple moving average is $576.47.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the business posted ($0.35) earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts expect that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

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.