GE Vernova (NYSE:GEV) Trading Up 3.7% Following Analyst Upgrade

Key Points

• Morgan Stanley raised its price target on GE Vernova from $817 to $960, sending the stock up 3.7% and trading as high as $920.63 on above-average volume.
• GE Vernova reported a blowout quarter with EPS $13.39 versus $2.99 expected and revenue of $10.96B versus $10.21B, reflecting strong margins and return on equity.
• Analysts collectively give a "Moderate Buy" consensus with an average target of $837.25 after multiple upgrades, and the company announced a $0.50 quarterly dividend (annualized $2.00, ~0.2% yield).

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) shot up 3.7% during trading on Monday after Morgan Stanley raised their price target on the stock from $817.00 to $960.00. Morgan Stanley currently has an overweight rating on the stock. GE Vernova traded as high as $920.63 and last traded at $882.6620. 3,258,038 shares changed hands during trading, an increase of 12% from the average session volume of 2,898,871 shares. The stock had previously closed at $851.07.

A number of other equities analysts have also issued reports on the stock. Guggenheim raised shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $910.00 target price on the stock in a research report on Friday, January 30th. Erste Group Bank initiated coverage on shares of GE Vernova in a report on Thursday, March 5th. They issued a "buy" rating for the company. Bank of America raised their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a "buy" rating in a research report on Wednesday, December 10th. Mizuho set a $714.00 price objective on shares of GE Vernova in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of GE Vernova in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $837.25.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. acquired a new position in GE Vernova in the fourth quarter valued at about $523,000. Rockefeller Capital Management L.P. increased its holdings in shares of GE Vernova by 16.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 357,577 shares of the company's stock worth $233,703,000 after buying an additional 50,236 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $69,000. Lane Brothers & Co. Inc. bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $226,000. Finally, World Investment Advisors raised its stake in shares of GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company's stock valued at $8,821,000 after acquiring an additional 2,241 shares during the last quarter.

GE Vernova Trading Up 3.7%

The firm has a market capitalization of $237.90 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 3.39 and a beta of 1.44. The firm has a fifty day moving average price of $779.34 and a 200 day moving average price of $672.80.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to analysts' expectations of $10.21 billion. During the same period last year, the firm posted $1.73 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 11.24%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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