GE Vernova (NYSE:GEV) Downgraded to Peer Perform Rating by Wolfe Research

Wolfe Research downgraded shares of GE Vernova (NYSE:GEV - Free Report) from an outperform rating to a peer perform rating in a report issued on Friday, Marketbeat Ratings reports.

GEV has been the subject of a number of other research reports. Baird R W upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. Guggenheim reaffirmed a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Citigroup cut their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Truist Financial set a $440.00 target price on GE Vernova in a research report on Thursday, March 27th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $395.98.

GE Vernova Stock Down 2.0%

Shares of GEV stock traded down $9.74 during trading hours on Friday, hitting $477.93. 2,432,081 shares of the company were exchanged, compared to its average volume of 3,280,688. The firm has a fifty day moving average of $404.31 and a 200 day moving average of $364.45. GE Vernova has a 1 year low of $150.01 and a 1 year high of $500.72. The firm has a market cap of $130.44 billion, a PE ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted ($0.47) earnings per share. GE Vernova's revenue was up 10.6% on a year-over-year basis. Analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio is presently 14.41%.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently bought and sold shares of the business. Principal Securities Inc. boosted its position in GE Vernova by 29.0% during the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after purchasing an additional 425 shares during the period. New York State Teachers Retirement System lifted its stake in GE Vernova by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock valued at $79,643,000 after buying an additional 7,373 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of GE Vernova by 7.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 109,824 shares of the company's stock valued at $36,659,000 after acquiring an additional 7,970 shares during the period. O Neil Global Advisors Inc. acquired a new position in shares of GE Vernova during the fourth quarter valued at $2,064,000. Finally, Axiom Investors LLC DE bought a new position in shares of GE Vernova during the fourth quarter worth about $123,157,000.

GE Vernova Company Profile

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.