GE Vernova (NYSE:GEV) Shares Up 3.7% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) shot up 3.7% during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $817.00 to $960.00. Morgan Stanley currently has an overweight rating on the stock. GE Vernova traded as high as $920.63 and last traded at $882.6620. 3,258,038 shares traded hands during trading, an increase of 12% from the average session volume of 2,898,871 shares. The stock had previously closed at $851.07.

Several other brokerages have also issued reports on GEV. The Goldman Sachs Group boosted their price objective on GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Susquehanna lifted 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. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Citigroup increased their price objective on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, Barclays restated an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $837.25.

Institutional Inflows and Outflows

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

GE Vernova Trading Up 3.7%

The firm has a market capitalization of $237.90 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 3.39 and a beta of 1.44. The company’s 50 day moving average is $784.19 and its 200-day moving average is $674.79.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business 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 firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 EPS. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. 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 is 11.24%.

About GE Vernova

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.