GE Vernova (NYSE:GEV) Stock Gets Price Target Trim from JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its target price lowered by JPMorgan Chase & Co. from $1,330.00 to $1,150.00 in a research report report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $1,185.00 price objective (up from $1,155.00) on shares of GE Vernova in a research note on Thursday, September 17th. The Goldman Sachs Group raised GE Vernova from a “buy” rating to a “market outperform” rating in a report on Monday, September 14th. Guggenheim upped their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,165.87.

GE Vernova Stock Down 0.1%

GE Vernova stock opened at $1,003.83 on Friday. The stock has a market cap of $267.35 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 3.48 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $967.78 and its two-hundred day moving average price is $999.47. GE Vernova has a 52 week low of $530.16 and a 52 week high of $1,195.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. On average, analysts expect that GE Vernova will post 15.03 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s dividend payout ratio is presently 5.72%.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of GE Vernova during the second quarter worth approximately $25,569,630,000. State Street Corp raised its position in shares of GE Vernova by 3.3% in the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after buying an additional 370,842 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $2,961,612,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova in the second quarter valued at approximately $2,497,472,000. Finally, Jupiter Topco LLC bought a new stake in shares of GE Vernova in the second quarter valued at approximately $2,371,538,000.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.