GE Vernova (NYSE:GEV) Price Target Raised to $710.00

GE Vernova (NYSE:GEV) had its target price raised by BMO Capital Markets from $690.00 to $710.00 in a research note released on Thursday, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other analysts have also weighed in on GEV. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.59.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $584.68 on Thursday. The firm has a market capitalization of $158.64 billion, a price-to-earnings ratio of 95.23, a PEG ratio of 4.22 and a beta of 1.72. The stock has a 50 day moving average price of $611.31 and a 200 day moving average price of $531.04. GE Vernova has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GE Vernova by 8.4% during the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after purchasing an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of GE Vernova in the 1st quarter valued at $328,000. Lecap Asset Management Ltd. purchased a new position in GE Vernova in the 1st quarter worth $407,000. Finally, Daymark Wealth Partners LLC raised its stake in GE Vernova by 13.7% in the 1st quarter. Daymark Wealth Partners LLC now owns 7,010 shares of the company’s stock worth $2,140,000 after acquiring an additional 842 shares during the last quarter.

GE Vernova Company Profile

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.