GE Vernova (NYSE:GEV) Stock Price Up 1.4% Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price shot up 1.4% during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from $381.00 to $522.00. BMO Capital Markets currently has an outperform rating on the stock. GE Vernova traded as high as $483.30 and last traded at $479.51. 713,286 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,338,186 shares. The stock had previously closed at $472.98.

Several other brokerages have also weighed in on GEV. Susquehanna reaffirmed a "positive" rating and issued a $499.00 target price (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Citigroup reduced their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Barclays lifted their price objective on shares of GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research note on Friday. Seven 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 MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $385.78.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the stock. Westover Capital Advisors LLC lifted its stake in GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after purchasing an additional 25 shares during the last quarter. SVB Wealth LLC lifted its stake in GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares during the last quarter. Stonebridge Financial Group LLC lifted its stake in GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares during the last quarter. Finally, Hemington Wealth Management lifted its stake in GE Vernova by 20.3% during the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after purchasing an additional 30 shares during the last quarter.

GE Vernova Stock Up 1.8%

The firm has a 50 day simple moving average of $375.20 and a two-hundred day simple moving average of $356.68. The stock has a market capitalization of $134.77 billion, a P/E ratio of 88.81, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm 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 company's quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

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.