GE Vernova (NYSE:GEV) Rating Increased to Buy at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of GE Vernova (NYSE:GEV) from a sell rating to a buy rating in a report released on Monday morning, Marketbeat.com reports. The brokerage currently has $1,100.00 price objective on the stock, up from their prior price objective of $560.00.

Several other brokerages also recently weighed in on GEV. Susquehanna increased their target price on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Barclays reaffirmed an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a report on Monday, February 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $785.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Trading Up 5.1%

Shares of GEV opened at $829.66 on Monday. The company’s 50 day simple moving average is $746.41 and its 200-day simple moving average is $658.06. The firm has a market cap of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. GE Vernova has a 12-month low of $252.25 and a 12-month high of $894.93.

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

GE Vernova Announces Dividend

The firm 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is currently 11.24%.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jackson Grant Investment Advisers Inc. boosted its holdings in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in GE Vernova in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the third quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at approximately $26,000. Finally, ORG Wealth Partners LLC boosted its stake in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 shares in the last quarter.

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.