GE Vernova (NYSE:GEV) Given New $570.00 Price Target at The Goldman Sachs Group

GE Vernova (NYSE:GEV - Free Report) had its price objective raised by The Goldman Sachs Group from $500.00 to $570.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Robert W. Baird increased their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Guggenheim restated a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Barclays upped their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $395.98.

GE Vernova Stock Up 3.7%

NYSE:GEV traded up $17.43 during trading hours on Tuesday, reaching $482.74. 2,633,153 shares of the company's stock were exchanged, compared to its average volume of 3,286,099. GE Vernova has a 1-year low of $150.01 and a 1-year high of $500.72. The firm has a market capitalization of $131.76 billion, a price-to-earnings ratio of 86.82, a P/E/G ratio of 3.03 and a beta of 1.97. The company has a 50-day moving average of $396.05 and a 200 day moving average of $362.54.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating 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 business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned ($0.47) earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. Research analysts forecast that GE Vernova will post 6.59 EPS for the current fiscal 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 yield of 0.21%. GE Vernova's payout ratio is presently 14.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GEV. FMR LLC boosted its position in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Vanguard Group Inc. increased its stake in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Capital International Investors raised its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Finally, Norges Bank acquired a new stake in GE Vernova in the fourth quarter valued at $1,109,720,000.

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.