Brokerages Set GE Vernova Inc. (NYSE:GEV) Target Price at $404.56

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-one analysts that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $404.56.

A number of research firms recently weighed in on GEV. JPMorgan Chase & Co. lifted their target price on GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Robert W. Baird boosted their price objective on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. The Goldman Sachs Group upped their target price on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Barclays lifted their price target on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Finally, New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th.

GE Vernova Stock Up 0.3%

GEV opened at $490.12 on Monday. The firm has a market capitalization of $133.77 billion, a P/E ratio of 70.62, a price-to-earnings-growth ratio of 3.79 and a beta of 1.97. The stock’s 50 day moving average price is $418.66 and its two-hundred day moving average price is $368.60. GE Vernova has a 12-month low of $150.01 and a 12-month high of $500.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.47) earnings per share. As a group, analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of GEV. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter worth about $25,000. Fairway Wealth LLC raised its holdings 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 acquiring an additional 55 shares in the last quarter. Navigoe LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova in the first quarter valued at approximately $27,000. Finally, IMA Advisory Services Inc. bought a new position in GE Vernova in the first quarter valued at approximately $27,000.

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.