GE Vernova (NYSE:GEV) Trading Up 5.1% Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price shot up 5.1% during trading on Monday after Rothschild & Co Redburn upgraded the stock from a sell rating to a buy rating. Rothschild & Co Redburn now has a $1,100.00 price target on the stock, up from their previous price target of $560.00. GE Vernova traded as high as $830.49 and last traded at $829.6620. 2,868,783 shares were traded during mid-day trading, a decline of 3% from the average session volume of 2,962,953 shares. The stock had previously closed at $789.23.

Several other analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Bank of America raised their price target on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $831.29.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GEV. Auto Owners Insurance Co raised its holdings in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Norges Bank bought a new stake in GE Vernova during the fourth quarter worth approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its holdings in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares in the last quarter. Capital World Investors grew its holdings in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares during the period.

GE Vernova Stock Up 5.1%

The company has a market capitalization of $223.62 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. The business has a 50-day moving average price of $746.41 and a 200-day moving average price of $658.06.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is 11.24%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.