Citigroup Reiterates "Neutral" Rating for GE Vernova (NYSE:GEV)

Citigroup reissued their neutral rating on shares of GE Vernova (NYSE:GEV - Free Report) in a research note released on Monday, MarketBeat.com reports. Citigroup currently has a $544.00 price target on the stock, up from their prior price target of $354.00.

Other analysts also recently issued research reports about the stock. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Robert W. Baird raised their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. TD Cowen decreased their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $468.88.

GE Vernova Trading Up 1.8%

Shares of GEV traded up $9.83 during trading hours on Monday, reaching $571.00. 2,567,062 shares of the stock traded hands, compared to its average volume of 3,318,018. The stock has a fifty day simple moving average of $486.23 and a 200 day simple moving average of $394.06. GE Vernova has a 52 week low of $150.01 and a 52 week high of $581.04. The company has a market cap of $155.84 billion, a price-to-earnings ratio of 82.28, a PEG ratio of 4.17 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the firm earned ($0.47) earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. Analysts predict that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 14.41%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Highline Wealth Partners LLC lifted its stake in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. lifted its stake in shares of GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. lifted its stake in shares of GE Vernova by 9.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after purchasing an additional 20 shares during the period. West Branch Capital LLC lifted its stake in shares of GE Vernova by 25.6% in the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock worth $52,000 after purchasing an additional 20 shares during the period. Finally, Grove Bank & Trust lifted its stake in shares of GE Vernova by 16.0% in the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares during the period.

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.