GE Vernova (NYSE:GEV) Research Coverage Started at Johnson Rice

Johnson Rice initiated coverage on shares of GE Vernova (NYSE:GEV) in a report published on Friday, Marketbeat reports. The firm issued a buy rating and a $425.00 price target on the stock.

A number of other research analysts also recently issued reports on GEV. Bank of America boosted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Barclays upped their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Stock Up 0.8 %

NYSE GEV opened at $377.99 on Friday. The company has a market capitalization of $104.19 billion and a price-to-earnings ratio of 67.98. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a fifty day simple moving average of $358.59 and a 200 day simple moving average of $286.31.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the third quarter valued at approximately $28,000. Finally, Covestor Ltd lifted its holdings in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.