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

GE Vernova Inc. (NYSE:GEV) has received an average rating of “Moderate Buy” from the twenty-nine brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, eighteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $701.4231.

GEV has been the topic of several analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Mizuho lowered their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Bank of America raised their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Evercore ISI began coverage on GE Vernova in a report on Monday, December 15th. They set an “outperform” rating and a $860.00 price target on the stock.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moran Wealth Management LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at $263,000. River Street Advisors LLC acquired a new stake in GE Vernova during the fourth quarter valued at $200,000. Patriot Financial Group Insurance Agency LLC grew its stake in GE Vernova by 1.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,672 shares of the company’s stock valued at $2,400,000 after purchasing an additional 52 shares in the last quarter. Chicago Capital LLC increased its position in GE Vernova by 0.8% in the 4th quarter. Chicago Capital LLC now owns 5,341 shares of the company’s stock worth $3,490,000 after purchasing an additional 40 shares during the last quarter. Finally, Asset Dedication LLC raised its stake in shares of GE Vernova by 46.9% during the 4th quarter. Asset Dedication LLC now owns 144 shares of the company’s stock worth $94,000 after purchasing an additional 46 shares in the last quarter.

GE Vernova Stock Up 1.2%

Shares of GE Vernova stock opened at $665.75 on Tuesday. GE Vernova has a 12-month low of $252.25 and a 12-month high of $731.00. The firm has a market capitalization of $180.63 billion, a PE ratio of 108.43, a price-to-earnings-growth ratio of 2.79 and a beta of 1.67. The stock’s fifty day moving average is $640.96 and its 200-day moving average is $618.70.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is currently 32.57%.

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.