Citigroup Cuts GE Vernova (NYSE:GEV) Price Target to $354.00

GE Vernova (NYSE:GEV - Free Report) had its price target reduced by Citigroup from $437.00 to $354.00 in a research report report published on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Susquehanna assumed coverage on GE Vernova in a research report on Wednesday, April 2nd. They issued a "positive" rating and a $370.00 price target on the stock. Jefferies Financial Group raised their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $357.13.

GE Vernova Stock Performance

NYSE:GEV traded down $5.36 during mid-day trading on Monday, reaching $322.81. 2,859,246 shares of the company's stock were exchanged, compared to its average volume of 3,367,032. The firm has a market capitalization of $88.24 billion and a PE ratio of 58.06. GE Vernova has a one year low of $132.11 and a one year high of $447.50. The business's fifty day simple moving average is $321.67 and its two-hundred day simple moving average is $329.61.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova's payout ratio is 17.99%.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of GE Vernova by 3.4% in the 4th 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 increased its stake in GE Vernova by 25.3% in the fourth 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after purchasing an additional 195,828 shares during the period. Norges Bank bought a new position in shares of GE Vernova during the 4th quarter worth about $1,109,720,000. Finally, Northern Trust Corp grew its stake in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares during the period.

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.