GE Vernova (NYSE:GEV) Research Coverage Started at Erste Group Bank

Erste Group Bank started coverage on shares of GE Vernova (NYSE:GEV) in a research report released on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Several other research firms have also commented on GEV. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. Wells Fargo & Company upped their target price on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $805.25.

GE Vernova Stock Performance

GEV opened at $790.00 on Thursday. GE Vernova has a one year low of $252.25 and a one year high of $894.93. The company has a market cap of $212.93 billion, a P/E ratio of 44.38, a PEG ratio of 3.14 and a beta of 1.45. The business’s 50-day simple moving average is $743.08 and its 200-day simple moving average is $656.12.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s payout ratio is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

Several hedge funds have recently bought and sold shares of GEV. Synergy Asset Management LLC increased its position in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,413 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of GE Vernova by 25.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after buying an additional 3,278 shares during the last quarter. Kercheville Advisors LLC raised its position in shares of GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after buying an additional 3,455 shares during the period. Rakuten Investment Management Inc. acquired a new position in GE Vernova in the third quarter valued at $18,601,000. Finally, US Bancorp DE grew its position in GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 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.