GE Vernova Inc. (NYSE:GEV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have received an average rating of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $337.48.

Several research firms recently issued reports on GEV. BMO Capital Markets increased their target price on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday. Guggenheim decreased their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Newport Trust Company LLC acquired a new stake in GE Vernova during the 2nd quarter worth $650,140,000. Marshall Wace LLP purchased a new position in GE Vernova during the 2nd quarter worth $399,770,000. Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter worth $293,699,000. Finally, Electron Capital Partners LLC increased its stake in GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after purchasing an additional 1,596,996 shares during the period.

GE Vernova Stock Up 2.4 %

Shares of GEV stock opened at $437.37 on Friday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a 50-day moving average of $349.37 and a two-hundred day moving average of $269.42.

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 net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova will post 1.96 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.