GE Vernova (NYSE:GEV) Shares Up 2% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price rose 2% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $430.00 to $460.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GE Vernova traded as high as $440.50 and last traded at $436.54. Approximately 982,922 shares traded hands during trading, a decline of 70% from the average daily volume of 3,311,599 shares. The stock had previously closed at $428.06.

Several other equities analysts also recently issued reports on the stock. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Barclays lowered their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Robert W. Baird increased their target price on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group lifted their price target on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.62.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings 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 valued at $25,000 after acquiring an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC lifted its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $27,000.

GE Vernova Stock Up 2.1%

The firm has a market cap of $119.27 billion and a PE ratio of 78.60. The business has a 50-day moving average price of $344.05 and a two-hundred day moving average price of $345.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. GE Vernova’s dividend payout ratio is currently 14.41%.

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.