Seaport Res Ptn Upgrades GE Vernova (NYSE:GEV) to "Strong-Buy"

Seaport Res Ptn upgraded shares of GE Vernova (NYSE:GEV - Free Report) to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Several other equities analysts have also commented on GEV. Royal Bank Of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. BMO Capital Markets upped their target price on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday. UBS Group initiated coverage on GE Vernova in a research report on Monday. They issued a "buy" rating and a $614.00 price target for the company. TD Cowen decreased their price objective on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $451.38.

GE Vernova Stock Performance

GEV traded down $0.41 during trading on Thursday, reaching $538.95. 2,285,780 shares of the company traded hands, compared to its average volume of 3,318,687. GE Vernova has a 12-month low of $150.01 and a 12-month high of $546.36. The firm has a fifty day simple moving average of $474.02 and a 200 day simple moving average of $388.24. The company has a market cap of $147.10 billion, a P/E ratio of 145.77, a PEG ratio of 4.15 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. As a group, sell-side analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio is currently 14.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. FMR LLC grew its stake in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 buying an additional 432,830 shares during the last quarter. Capital International Investors grew its position in shares of 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 buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GE Vernova by 3.5% during 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 acquired a new stake in GE Vernova in the fourth quarter valued at approximately $1,109,720,000.

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.