GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 1.4% during mid-day trading on Friday . The company traded as high as $335.66 and last traded at $330.90. Approximately 1,182,188 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,875,621 shares. The stock had previously closed at $326.28.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on GEV. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Wolfe Research began coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price target on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $347.83.
Read Our Latest Stock Analysis on GE Vernova
GE Vernova Price Performance
The stock has a fifty day moving average of $363.85 and a 200 day moving average of $306.36. The firm has a market capitalization of $86.96 billion and a P/E ratio of 56.69.
GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for 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. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio is currently 17.99%.
GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On GE Vernova
Several institutional investors and hedge funds have recently bought and sold shares of GEV. FMR LLC lifted its position in shares of GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Capital International Investors boosted its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. State Street Corp increased its stake in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Finally, Geode Capital Management LLC lifted its stake in shares of GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares in the last quarter.
About GE Vernova
(
Get Free Report)
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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