GE Vernova (NYSE:GEV) Price Target Cut to $1,000.00 by Analysts at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its price objective decreased by JPMorgan Chase & Co. from $1,035.00 to $1,000.00 in a research report sent to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research report on Monday, October 19th. President Capital lifted their price target on GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Susquehanna dropped their price target on shares of GE Vernova from $1,270.00 to $1,250.00 and set a “positive” rating on the stock in a research note on Thursday, October 29th. Finally, Evercore reissued an “outperform” rating and set a $1,350.00 price objective on shares of GE Vernova in a research report on Thursday, October 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,143.03.

GE Vernova Stock Performance

Shares of GEV opened at $809.59 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $214.28 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.60 and a beta of 1.25. The business’s 50 day moving average price is $917.88 and its 200-day moving average price is $946.85. GE Vernova has a 52 week low of $530.16 and a 52 week high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $12.64 billion during the quarter, compared to analyst estimates of $11.99 billion. GE Vernova had a return on equity of 46.50% and a net margin of 23.54%. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. Equities research analysts anticipate that GE Vernova will post 16.13 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 5.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $25,569,630,000. State Street Corp raised its holdings in shares of GE Vernova by 3.3% during the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after purchasing an additional 370,842 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of GE Vernova by 38.3% during the third quarter. Fisher Asset Management LLC now owns 4,921,063 shares of the company’s stock valued at $4,677,422,000 after purchasing an additional 1,361,584 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of GE Vernova during the second quarter valued at approximately $2,961,612,000. Finally, Bank of New York Mellon Corp bought a new position in GE Vernova during the second quarter valued at approximately $2,497,472,000.

Trending Headlines about GE Vernova

These are some of the GEV headlines that stood out recently:

• Positive Sentiment: GE Vernova plans to invest $34.5 million to expand Louisiana transformer manufacturing capacity, positioning the business to serve rising grid-infrastructure demand. GE Vernova to spend $34.5M expanding Louisiana transformer manufacturing capacity
• Negative Sentiment: SoftBank’s reassessment of plans for an Ohio data center has fueled concern about potential delays or reduced demand for power-generation equipment, weighing on sentiment toward GE Vernova and other AI-power stocks. GE Vernova shares slide after SoftBank revises US data center project plans
• Negative Sentiment: Despite the surge in total orders, electrification orders fell 9% year over year, a notable weak spot given the importance of grid equipment to the company’s growth outlook. GE Vernova’s Orders Jumped 96%

About GE Vernova

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.