JPMorgan Chase & Co. Has Lowered Expectations for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price target trimmed by JPMorgan Chase & Co. from $436.00 to $425.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently commented on GEV. Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group increased their target price on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Truist Financial set a $440.00 price target on shares of GE Vernova in a research report on Thursday, March 27th. Finally, New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $348.80.

GE Vernova Price Performance

Shares of GEV stock opened at $311.06 on Thursday. The stock’s fifty day simple moving average is $327.44 and its 200 day simple moving average is $327.19. GE Vernova has a one year low of $128.25 and a one year high of $447.50. The firm has a market cap of $85.03 billion and a price-to-earnings ratio of 55.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. GE Vernova’s payout ratio is 17.99%.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in GE Vernova in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $27,000.

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.