GE Vernova (NYSE:GEV) Trading Up 1.9% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEVGet Free Report)’s share price shot up 1.9% during trading on Thursday after Barclays raised their price target on the stock from $420.00 to $487.00. Barclays currently has an overweight rating on the stock. GE Vernova traded as high as $435.99 and last traded at $435.19. 812,392 shares traded hands during trading, a decline of 71% from the average session volume of 2,838,909 shares. The stock had previously closed at $427.10.

A number of other equities analysts have also recently weighed in on GEV. Truist Financial upped their price target on GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. BMO Capital Markets boosted their target price on shares of GE Vernova from $360.00 to $420.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $335.40.

Get Our Latest Stock Report on GE Vernova

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Field & Main Bank lifted its position in shares of GE Vernova by 43.3% during the 4th quarter. Field & Main Bank now owns 2,285 shares of the company’s stock worth $752,000 after purchasing an additional 690 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of GE Vernova by 17.8% in the 4th quarter. Strategic Blueprint LLC now owns 1,166 shares of the company’s stock valued at $384,000 after acquiring an additional 176 shares during the last quarter. Parkwoods Wealth Partners LLC purchased a new stake in GE Vernova during the fourth quarter worth approximately $245,000. Forsta AP Fonden boosted its holdings in GE Vernova by 8.4% in the fourth quarter. Forsta AP Fonden now owns 61,931 shares of the company’s stock valued at $20,371,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $170,000.

GE Vernova Trading Up 2.2 %

The firm’s 50-day moving average price is $349.37 and its two-hundred day moving average price is $269.42.

GE Vernova (NYSE:GEVGet Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Company Profile

(Get Free Report)

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.

Further Reading

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