GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Robert W. Baird Analyst Says

GE Vernova (NYSE:GEV - Free Report) had its price target raised by Robert W. Baird from $568.00 to $706.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

GEV has been the subject of several other reports. TD Cowen dropped their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Susquehanna reaffirmed a "positive" rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $540.96.

GE Vernova Trading Up 3.3%

NYSE:GEV traded up $20.63 during trading hours on Thursday, hitting $644.60. The company had a trading volume of 3,598,352 shares, compared to its average volume of 3,205,434. The company has a 50-day moving average of $510.80 and a 200 day moving average of $406.08. The company has a market cap of $175.93 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. GE Vernova has a 1 year low of $150.01 and a 1 year high of $651.22.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.65 EPS. On average, analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 yield of 0.16%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is currently 24.10%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $287,000. American Assets Inc. purchased a new position in shares of GE Vernova in the 4th quarter valued at about $658,000. Congress Wealth Management LLC DE increased its holdings in shares of GE Vernova by 32.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,608 shares of the company's stock valued at $858,000 after acquiring an additional 642 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $238,000.

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.