Brokerages Set GE Vernova Inc. (NYSE:GEV) PT at $691.11

Shares of GE Vernova Inc. (NYSE:GEV) have been given an average rating of “Moderate Buy” by the thirty-four analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $691.1111.

A number of research firms recently weighed in on GEV. UBS Group upped their target price on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Susquehanna lifted their price objective on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research note on Wednesday, December 10th. Morgan Stanley boosted their target price on GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a report on Monday, September 15th.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. increased its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $25,000. Bay Harbor Wealth Management LLC increased its position in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $678.29 on Friday. GE Vernova has a 52-week low of $252.25 and a 52-week high of $731.00. The stock’s 50-day simple moving average is $612.80 and its 200 day simple moving average is $602.28. The stock has a market capitalization of $184.03 billion, a price-to-earnings ratio of 110.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts forecast that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is 16.29%.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.