GE Vernova (NYSE:GEV) Price Target Raised to $436.00 at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its price target raised by JPMorgan Chase & Co. from $374.00 to $436.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

GEV has been the topic of a number of other reports. Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets boosted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $337.48.

GE Vernova Price Performance

GEV stock opened at $437.37 on Thursday. The business’s 50-day moving average is $349.37 and its two-hundred day moving average is $269.42. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts forecast that GE Vernova will post 1.96 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.23%.

GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of GE Vernova

Several hedge funds have recently made changes to their positions in GEV. Heck Capital Advisors LLC bought a new stake in GE Vernova during the fourth quarter worth approximately $348,000. Caprock Group LLC boosted its holdings in shares of GE Vernova by 21.8% in the 4th quarter. Caprock Group LLC now owns 19,062 shares of the company’s stock worth $6,275,000 after purchasing an additional 3,410 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $79,000. CMG Global Holdings LLC raised its holdings in GE Vernova by 1.7% during the 4th quarter. CMG Global Holdings LLC now owns 7,362 shares of the company’s stock valued at $2,422,000 after buying an additional 121 shares during the period. Finally, Cibc World Market Inc. lifted its position in GE Vernova by 91.8% in the fourth quarter. Cibc World Market Inc. now owns 60,131 shares of the company’s stock worth $19,779,000 after buying an additional 28,786 shares during the last quarter.

GE Vernova Company Profile

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.