GE Vernova (NYSE:GEV) Given New $500.00 Price Target at Barclays

GE Vernova (NYSE:GEV - Free Report) had its price target lifted by Barclays from $427.00 to $500.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on GEV. JPMorgan Chase & Co. raised their target price on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Morgan Stanley reaffirmed an "overweight" rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Baird R W raised GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. BMO Capital Markets decreased their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Finally, Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Price Performance

GE Vernova stock traded up $0.39 during midday trading on Friday, reaching $471.56. 5,090,753 shares of the company traded hands, compared to its average volume of 3,348,350. The firm has a market capitalization of $128.71 billion and a price-to-earnings ratio of 84.81. The business has a 50 day moving average of $371.84 and a two-hundred day moving average of $355.59. GE Vernova has a 12 month low of $150.01 and a 12 month high of $489.13.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 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 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. As a group, equities analysts forecast that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the 4th quarter worth about $25,000. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the period. Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter worth about $27,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the 1st quarter worth about $27,000.

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.