GE Vernova (NYSE:GEV) Given New $960.00 Price Target at Morgan Stanley

GE Vernova (NYSE:GEV) had its price objective increased by Morgan Stanley from $817.00 to $960.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Erste Group Bank initiated coverage on GE Vernova in a research report on Thursday, March 5th. They set a “buy” rating for the company. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. UBS Group restated a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Susquehanna upped their price target on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $837.25.

GE Vernova Stock Up 3.7%

GEV opened at $882.66 on Monday. The company has a market capitalization of $237.90 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 3.39 and a beta of 1.44. The firm has a 50-day simple moving average of $784.19 and a two-hundred day simple moving average of $674.79. GE Vernova has a 52 week low of $252.25 and a 52 week high of $920.63.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On GE Vernova

Large investors have recently modified their holdings of the stock. Torren Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $26,000. Cornerstone Financial Management LLC bought a new stake in GE Vernova during the 4th quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the 3rd quarter valued at about $25,000. Finally, ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares during the period.

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.