GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price was up 0% during trading on Thursday . The company traded as high as $348.51 and last traded at $335.35. Approximately 1,497,149 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 3,857,628 shares. The stock had previously closed at $335.24.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on GEV shares. The Goldman Sachs Group boosted their price target on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Robert W. Baird assumed coverage on GE Vernova in a report on Thursday, February 13th. They issued an "outperform" rating and a $448.00 price target on the stock. Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Finally, Baird R W upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $350.13.
Check Out Our Latest Report on GEV
GE Vernova Price Performance
The firm has a 50-day moving average price of $363.85 and a 200 day moving average price of $306.36. The company has a market cap of $92.65 billion and a price-to-earnings ratio of 60.40.
GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio is currently 17.99%.
GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.
Institutional Investors Weigh In On GE Vernova
A number of large investors have recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $25,000. Fairway Wealth LLC grew its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Navigoe LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $27,000.
GE Vernova Company Profile
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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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