JPMorgan Chase & Co. Lowers GE Vernova (NYSE:GEV) Price Target to $425.00

GE Vernova (NYSE:GEV - Free Report) had its price target lowered by JPMorgan Chase & Co. from $436.00 to $425.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on GEV. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Jefferies Financial Group raised their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. BMO Capital Markets reduced their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Finally, Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $348.80.

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GE Vernova Trading Up 0.3 %

Shares of NYSE GEV traded up $1.03 during trading on Thursday, reaching $322.46. 1,248,100 shares of the company traded hands, compared to its average volume of 3,397,835. The firm's fifty day simple moving average is $326.73 and its 200 day simple moving average is $328.18. The stock has a market cap of $88.14 billion and a P/E ratio of 58.00. GE Vernova has a 12-month low of $128.25 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is currently 17.99%.

Hedge Funds Weigh In On GE Vernova

Large investors have recently bought and sold shares of the company. Howard Capital Management Group LLC acquired a new stake in shares of GE Vernova in the third quarter valued at about $213,000. National Bank of Canada FI grew its holdings in shares of GE Vernova by 17.0% during the third quarter. National Bank of Canada FI now owns 10,749 shares of the company's stock worth $2,741,000 after buying an additional 1,559 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in GE Vernova by 4.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,549 shares of the company's stock worth $2,180,000 after acquiring an additional 334 shares during the period. MML Investors Services LLC grew its position in shares of GE Vernova by 45.7% in the third quarter. MML Investors Services LLC now owns 30,418 shares of the company's stock valued at $7,756,000 after purchasing an additional 9,537 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of GE Vernova by 291.7% in the third quarter. Continuum Advisory LLC now owns 517 shares of the company's stock valued at $132,000 after purchasing an additional 385 shares during the period.

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.