GE Vernova (NYSE:GEV) Coverage Initiated by Analysts at Robert W. Baird

Robert W. Baird assumed coverage on shares of GE Vernova (NYSE:GEV) in a research report released on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $448.00 price objective on the stock.

A number of other equities research analysts have also recently commented on GEV. Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Friday, January 24th. Finally, Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Eight 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Performance

NYSE GEV opened at $370.45 on Thursday. The stock has a 50-day simple moving average of $360.87 and a two-hundred day simple moving average of $290.73. The firm has a market capitalization of $102.11 billion and a P/E ratio of 66.63. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in shares of GE Vernova in the fourth quarter worth $647,000. Canada Pension Plan Investment Board grew its stake in shares of GE Vernova by 64.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 379,833 shares of the company’s stock worth $124,938,000 after acquiring an additional 149,235 shares in the last quarter. Capital Square LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $249,000. NewEdge Advisors LLC grew its stake in shares of GE Vernova by 61.4% in the fourth quarter. NewEdge Advisors LLC now owns 25,803 shares of the company’s stock worth $8,487,000 after acquiring an additional 9,818 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $67,519,000.

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.