GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 1.2% during mid-day trading on Wednesday . The stock traded as high as $475.79 and last traded at $477.40. 819,829 shares changed hands during trading, a decline of 75% from the average session volume of 3,321,050 shares. The stock had previously closed at $471.51.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating for the company. 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. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price for the company. TD Cowen dropped their target price 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, Citigroup dropped their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.
Get Our Latest Analysis on GE Vernova
GE Vernova Stock Up 0.1%
The company has a 50 day moving average of $371.84 and a two-hundred day moving average of $355.23. The firm has a market cap of $128.71 billion and a P/E ratio of 84.81.
GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating 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 business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business posted ($0.47) earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio is 14.41%.
Institutional Investors Weigh In On GE Vernova
Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Capital International Investors lifted its stake in GE Vernova by 25.3% in the 4th 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 lifted its stake in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Finally, Norges Bank purchased a new stake in GE Vernova in the 4th quarter worth about $1,109,720,000.
About GE Vernova
(
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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.
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