GE Vernova Inc. (NYSE:GEV) Given Average Recommendation of “Moderate Buy” by Brokerages

GE Vernova Inc. (NYSE:GEV) has received a consensus recommendation of “Moderate Buy” from the thirty research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1,089.8846.

A number of equities analysts recently weighed in on GEV shares. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th.

GE Vernova Price Performance

GE Vernova stock opened at $1,172.73 on Friday. The firm has a market capitalization of $315.14 billion, a P/E ratio of 34.16, a PEG ratio of 4.09 and a beta of 1.23. The business has a 50-day moving average of $1,037.02 and a 200-day moving average of $872.20. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova has a 1 year low of $482.20 and a 1 year high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GEV. Auto Owners Insurance Co grew its holdings in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. lifted its position in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp lifted its position in GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after purchasing an additional 231,392 shares during the period. Geode Capital Management LLC grew its stake in GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after buying an additional 68,894 shares in the last quarter. Finally, Morgan Stanley increased its holdings in GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after buying an additional 685,466 shares during the period.

About GE Vernova

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.