GE Vernova (NYSE:GEV) Hits New 52-Week High After Analyst Upgrade

Key Points

• GE Vernova hit a new 52-week high after Citigroup raised its price target to $1,110 (while keeping a neutral rating), and several other firms raised ratings/targets, leaving a MarketBeat consensus Buy and an average price target of $889.30.
• The company reported a blowout quarter with EPS of $13.39 vs. $2.99 expected and revenue of $10.96B vs. $10.21B, posting strong margins (net margin 12.83%) and ROE (46.91%); analysts project FY EPS of 6.59.
• GE Vernova announced a quarterly dividend of $0.50 (annualized $2.00) for a yield of 0.2% and carries a market cap of $266.75 billion with a P/E of 55.74.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $779.00 to $1,110.00. Citigroup currently has a neutral rating on the stock. GE Vernova traded as high as $1,007.38 and last traded at $992.1590, with a volume of 1628222 shares changing hands. The stock had previously closed at $991.32.

Several other research firms have also issued reports on GEV. Glj Research lifted their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Guggenheim raised shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $910.00 price objective for the company in a research note on Friday, January 30th. Weiss Ratings raised shares of GE Vernova from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of "Buy" and an average price target of $889.30.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Old North State Trust LLC bought a new position in GE Vernova in the 4th quarter worth $384,000. Purpose Unlimited Inc. bought a new position in GE Vernova in the 4th quarter worth $523,000. Rockefeller Capital Management L.P. raised its holdings in GE Vernova by 16.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 357,577 shares of the company's stock worth $233,703,000 after acquiring an additional 50,236 shares during the period. Osbon Capital Management LLC bought a new position in GE Vernova in the 4th quarter worth $69,000. Finally, Lane Brothers & Co. Inc. bought a new position in GE Vernova in the 4th quarter worth $226,000.

GE Vernova Trading Up 0.1%

The stock has a market cap of $266.75 billion, a P/E ratio of 55.74, a P/E/G ratio of 3.90 and a beta of 1.43. The firm's fifty day moving average is $851.93 and its 200 day moving average is $705.30.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova's dividend payout ratio (DPR) is 11.24%.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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