GE Vernova Inc. (NYSE:GEV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have received an average rating of “Moderate Buy” from the thirty-two ratings firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $350.13.

A number of equities research analysts recently commented on the company. Jefferies Financial Group lifted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Barclays lifted their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. BMO Capital Markets lifted their price objective on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI lifted 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.

GE Vernova Stock Down 0.8 %

GEV stock opened at $367.43 on Tuesday. The company has a market cap of $101.28 billion and a P/E ratio of 66.08. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50. The business has a fifty day moving average of $361.74 and a 200-day moving average of $294.36.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date 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 17.99%.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the third quarter worth approximately $2,507,296,000. Norges Bank bought a new position in shares of GE Vernova during the fourth quarter worth approximately $1,109,720,000. Capital International Investors increased its stake in shares of 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. International Assets Investment Management LLC increased its stake in shares of GE Vernova by 35,238.2% during the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the period.

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.