GE Vernova (NYSE:GEV) Trading 2% Higher Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price was up 2% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $430.00 to $460.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GE Vernova traded as high as $440.50 and last traded at $436.54. Approximately 982,922 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,311,599 shares. The stock had previously closed at $428.06.

GEV has been the topic of a number of other reports. The Goldman Sachs Group upped their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. TD Cowen lowered their target price on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their price target on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $374.62.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the fourth quarter worth about $25,000. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Finally, Navigoe LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $27,000.

GE Vernova Trading Up 4.3%

The business’s fifty day moving average price is $347.00 and its 200-day moving average price is $346.95. The company has a market capitalization of $121.82 billion and a P/E ratio of 80.28.

GE Vernova (NYSE:GEV) last released its 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. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm earned ($0.47) EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

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.