GE Vernova (NYSE:GEV) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of GE Vernova (NYSE:GEV) in a research report report published on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $448.00 price objective on the stock.

GEV has been the subject of a number of other reports. Citigroup lifted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $367.43 on Thursday. The company’s 50-day moving average price is $361.74 and its two-hundred day moving average price is $292.64. GE Vernova has a one year low of $115.00 and a one year high of $447.50. The stock has a market capitalization of $101.28 billion and a PE ratio of 66.08.

GE Vernova (NYSE:GEV) last issued its earnings results 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 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 the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s payout ratio is presently 17.99%.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC acquired a new position in GE Vernova in the 4th 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.