GE Vernova Inc. (NYSE:GEV) Receives Consensus Rating of “Moderate Buy” from Brokerages

GE Vernova Inc. (NYSE:GEVGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirty ratings firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $1,089.8846.

GEV has been the topic of several research analyst reports. Robert W. Baird upped their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Guggenheim raised their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Citigroup boosted their target price on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th.

View Our Latest Research Report on GE Vernova

Key Stories Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

GE Vernova Stock Performance

Shares of GEV stock opened at $1,079.21 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm has a market cap of $290.01 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 3.90 and a beta of 1.09. GE Vernova has a 52 week low of $530.16 and a 52 week high of $1,195.94. The firm’s 50-day simple moving average is $1,037.65 and its two-hundred day simple moving average is $913.55.

GE Vernova (NYSE:GEVGet Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the firm earned $0.91 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova will post 15.06 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GEV. Onyx Bridge Wealth Group LLC increased its position in shares of GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares during the last quarter. Red Door Wealth Management LLC lifted its position in GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after purchasing an additional 10 shares during the last quarter. Advance Capital Management Inc. lifted its position in GE Vernova by 2.2% during the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after purchasing an additional 10 shares during the last quarter. Alpha Financial Partners LLC grew its stake in GE Vernova by 2.0% in the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after buying an additional 10 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its stake in GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after buying an additional 10 shares in the last quarter.

GE Vernova Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for GE Vernova (NYSE:GEV)

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