GE Vernova (NYSE:GEV) Price Target Lowered to $387.00 at Robert W. Baird

GE Vernova (NYSE:GEV - Free Report) had its target price decreased by Robert W. Baird from $448.00 to $387.00 in a report issued on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on GEV. BMO Capital Markets decreased their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Citigroup dropped their price target 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. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Finally, CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $357.13.

GE Vernova Stock Down 1.6 %

GEV stock traded down $5.36 during trading on Tuesday, hitting $322.81. The company had a trading volume of 2,859,246 shares, compared to its average volume of 3,362,406. The firm has a 50-day moving average price of $321.67 and a 200-day moving average price of $330.15. GE Vernova has a 12 month low of $132.11 and a 12 month high of $447.50. The stock has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is presently 17.99%.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEV. Norges Bank bought a new stake in shares of GE Vernova in the 4th quarter valued at $1,109,720,000. Capital International Investors boosted its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC boosted its stake in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the period. Finally, FMR LLC increased its stake in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 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.