GE Vernova Inc. (NYSE:GEV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

GE Vernova Inc. (NYSE:GEV) has earned a consensus recommendation of “Moderate Buy” from the thirty-two analysts that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $350.13.

A number of brokerages have commented on GEV. Robert W. Baird began coverage on shares of GE Vernova in a research report on Thursday. They set an “outperform” rating and a $448.00 price target on the stock. Deutsche Bank Aktiengesellschaft started 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 on the stock. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research report on Friday, January 24th. Finally, TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock.

GE Vernova Trading Down 0.8 %

Shares of GEV opened at $367.43 on Tuesday. The stock has a market capitalization of $101.28 billion and a P/E ratio of 66.08. The firm’s fifty day simple moving average is $361.74 and its two-hundred day simple moving average is $292.64. GE Vernova has a 12 month low of $115.00 and a 12 month high of $447.50.

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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

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

GE Vernova Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC boosted its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% in 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 boosted its holdings in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC bought a new position in GE Vernova in the 4th quarter worth 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.