GE Vernova (NYSE:GEV) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of GE Vernova (NYSE:GEV - Free Report) from a hold rating to a buy rating in a report released on Friday.

Several other analysts also recently weighed in on GEV. Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. BMO Capital Markets lifted their price objective on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and increased their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. raised their target price on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Susquehanna reiterated a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $429.13.

GE Vernova Price Performance

Shares of GEV traded up $13.75 during mid-day trading on Friday, reaching $520.56. The stock had a trading volume of 9,147,914 shares, compared to its average volume of 3,292,886. GE Vernova has a 52-week low of $150.01 and a 52-week high of $532.59. The firm has a market cap of $142.08 billion, a price-to-earnings ratio of 75.01, a P/E/G ratio of 3.94 and a beta of 1.97. The business's fifty day moving average is $443.89 and its 200 day moving average is $376.51.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.47) EPS. As a group, sell-side analysts anticipate that GE Vernova will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. AdviceOne Advisory Services LLC grew its position in shares of GE Vernova by 8.0% during the first quarter. AdviceOne Advisory Services LLC now owns 781 shares of the company's stock worth $238,000 after acquiring an additional 58 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in GE Vernova during the 1st quarter worth $3,185,000. Swedbank AB grew its position in GE Vernova by 38.1% during the 1st quarter. Swedbank AB now owns 190,148 shares of the company's stock worth $58,048,000 after purchasing an additional 52,461 shares during the last quarter. Voya Investment Management LLC increased its stake in GE Vernova by 23.7% in the first quarter. Voya Investment Management LLC now owns 124,458 shares of the company's stock valued at $37,995,000 after purchasing an additional 23,815 shares during the period. Finally, Howe & Rusling Inc. increased its stake in GE Vernova by 5.3% in the first quarter. Howe & Rusling Inc. now owns 934 shares of the company's stock valued at $285,000 after purchasing an additional 47 shares during the period.

GE Vernova Company Profile

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.