GE Vernova (NYSE:GEV) Now Covered by CICC Research

CICC Research started coverage on shares of GE Vernova (NYSE:GEV - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm issued an outperform rating on the stock.

GEV has been the topic of several other research reports. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Wells Fargo & Company upped their target price 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. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $350.13.

GE Vernova Price Performance

GE Vernova stock traded down $32.00 during mid-day trading on Wednesday, reaching $327.68. The stock had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. The company has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The company has a 50-day moving average price of $364.41 and a two-hundred day moving average price of $299.31. GE Vernova has a one year low of $115.00 and a one year high of $447.50.

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

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio is 17.99%.

Institutional Inflows and Outflows

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

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.