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

GE Vernova Inc. (NYSE:GEV - Get Free Report) has been given an average rating of "Moderate Buy" by the thirty-three analysts that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $347.83.

Several research firms have issued reports on GEV. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a "buy" rating and a $400.00 price target for the company. Evercore ISI lifted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Truist Financial upped their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Finally, Barclays dropped their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd.

GE Vernova Price Performance

Shares of GE Vernova stock traded down $4.32 during trading on Friday, hitting $288.90. The company's stock had a trading volume of 7,396,699 shares, compared to its average volume of 4,199,504. The stock has a market cap of $79.71 billion and a price-to-earnings ratio of 51.96. GE Vernova has a 52 week low of $115.00 and a 52 week high of $447.50. The stock has a 50-day moving average price of $360.05 and a two-hundred day moving average price of $309.70.

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GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GEV. FMR LLC grew its stake in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Capital International Investors boosted its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. State Street Corp grew its position in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company's stock valued at $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the third quarter worth $2,507,296,000. Finally, Geode Capital Management LLC raised its position in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares in the last quarter.

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.