GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price traded down 3.2% during mid-day trading on Thursday . The company traded as low as $361.90 and last traded at $363.12. 937,793 shares traded hands during trading, a decline of 74% from the average session volume of 3,544,988 shares. The stock had previously closed at $375.20.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. Jefferies Financial Group boosted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Bank of America boosted 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. Finally, Robert W. Baird assumed coverage on GE Vernova in a report on Thursday, February 13th. They set an "outperform" rating and a $448.00 price objective for the company. Eight investment 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $350.13.
Get Our Latest Stock Report on GE Vernova
GE Vernova Price Performance
The firm has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The firm's 50-day simple moving average is $364.41 and its 200 day simple moving average is $299.31.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.
GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Waverton Investment Management Ltd increased its holdings in shares of GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock worth $185,459,000 after buying an additional 66,455 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $206,000. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova during the third quarter worth $1,101,000. Atria Investments Inc increased its holdings in shares of GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company's stock worth $1,297,000 after buying an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after purchasing an additional 822 shares during the last quarter.
About GE Vernova
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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.
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