GE Vernova (NYSE:GEV) Now Covered by Johnson Rice

Johnson Rice assumed coverage on shares of GE Vernova (NYSE:GEV) in a research note published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $425.00 price objective on the stock.

GEV has been the subject of several other research reports. 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 target for the company. BMO Capital Markets increased their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Stock Performance

NYSE:GEV opened at $377.99 on Friday. GE Vernova has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a 50-day moving average price of $357.71 and a two-hundred day moving average price of $284.04. The firm has a market cap of $104.19 billion and a price-to-earnings ratio of 67.98.

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

GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp grew its position in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new position in GE Vernova in the third quarter valued at $2,507,296,000. Geode Capital Management LLC raised its position in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter.

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.